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If a person is willing to give up two burgers for one pizza; What is the...

If a person is willing to give up two burgers for one pizza; What is the marginal rate of substitution?

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Answer #1

Marginal rate of substitution of Pizza for burger = -2

(MRS is the rate at which a consumer is willing to give up one good to consume an additional unit of another good. So, as he is willing to give up 2 burgers for 1 Pizza so MRS for pizza for burger is -2.)

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