The rate at which a consumer is willing to trade one good for another to maintain the same level of satisfaction is affected by the
A)prices of the products.
B)amount of each good the consumer is currently consuming.
C)consumer's income.
D)marginal value product.

Question

Quizplus · Accepted Answer

The rate at which a consumer is willing to trade one good for another, known as the marginal rate of substitution, is influenced by the amount of each good the consumer is currently consuming.

The Rate at Which a Consumer Is Willing to Trade