Marginal rate of substitution

Marginal rate of substitution,

Definition of Marginal rate of substitution:

  1. Measure of how much of a commodity a consumer will give up to get one or more units of another commodity, while maintaining the same level of satisfaction.

How to use Marginal rate of substitution in a sentence?

  1. In trying to understand examples of marginal rate of substitution , we asked kids, how many pieces of one candy would they have to give up, to receive a piece of a different candy.
  2. You may find yourself having to use a marginal rate of substitution to get what you need out of your company.
  3. I wanted to know the marginal rate of substitution and it took me all afternoon to figure out how to do that.

Meaning of Marginal rate of substitution & Marginal rate of substitution Definition