Marginal rate of substitution/Definition: Difference between revisions
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imported>Nick Gardner (New page: <noinclude>{{Subpages}}</noinclude> The rate at which a person has to substitute the possession of one product for another in order to maintain a constant level of utility.) |
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Latest revision as of 06:05, 5 February 2010
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Marginal rate of substitution [r]: The rate at which a person has to substitute the possession of one product for another in order to maintain a constant level of utility.