Figure 21-11
-Refer to Figure 21-11. What is the consumer's marginal rate of substitution?
A)12
B)4
C)1
D)We do not have enough information to answer the question because the MRS varies along the graph.

Question

Figure 21-11 
-Refer to Figure 21-11. What is the consumer's marginal rate of substitution?
A)12 
B)4 
C)1 
D)We do not have enough information to answer the question because the MRS varies along the graph.

Quizplus · Accepted Answer

The marginal rate of substitution (MRS) is not constant and varies along the indifference curve, so without specific information about the consumer's preferences or the specific point on the curve, we cannot determine a single MRS value.

Figure 21-11 -Refer to Figure 21-11. What Is the Consumer's Marginal Rate