The rate at which consumers are willing to exchange one good for another while maintaining the same total utility is known as:

Name: The rate at which consumers are willing to exchange one good for another while maintaining the same total utility is known as:
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Question

Quizplus · Accepted Answer

The marginal rate of substitution (MRS) describes the rate at which consumers are willing to substitute one good for another while keeping their level of satisfaction (total utility) constant, making option B the correct answer.

The Rate at Which Consumers Are Willing to Exchange One