Marginal rate of substitution of X for Y is calculated as: [1]
A. PX / PY
B. PY / PX
C. ΔY / ΔX
D. All of these
Answer:C
Marginal rate of substitution of X for Y is calculated as: [1]
A. PX / PY B. PY / PX C. ΔY / ΔX D. All of these