Figure 10-5

-Refer to Figure 10-5.What is the marginal rate of substitution for one bar of chocolate between g and h?

Question

Figure 10-5
 
-Refer to Figure 10-5.What is the marginal rate of substitution for one bar of chocolate between g and h?

Quizplus · Accepted Answer

The marginal rate of substitution for one bar of chocolate between g and h is 11ea4843_717c_6e37_8763_133619f9df1c_TB4193_11 of a cookie, as indicated by the slope of the indifference curve at that point. Therefore, the best choice would be to trade one bar of chocolate for 11ea4843_717c_6e37_8763_133619f9df1c_TB4193_11 of a cookie, as it represents the amount that the individual is willing to give up of cookies in order to obtain one more bar of chocolate while still remaining on the same indifference curve.

Figure 10-5 -Refer to Figure 10-5.What Is the Marginal Rate of Substitution