Figure 5-9

-In Figure 5-9,the consumer's marginal rate of substitution at his optimum choice of X and Y is

Name: Figure 5-9 -In Figure 5-9,the consumer's marginal rate of substitution at his optimum choice of X and Y is
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Question

Figure 5-9
 
-In Figure 5-9,the consumer's marginal rate of substitution at his optimum choice of X and Y is

Quizplus · Accepted Answer

The marginal rate of substitution (MRS) at the consumer's optimum choice is equal to the negative of the slope of the indifference curve, which is typically -1 when the consumer is maximizing utility given their budget constraint.

Figure 5-9 -In Figure 5-9,the Consumer's Marginal Rate of Substitution at His