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From economic theory, the willingness of a consumer to give up consumption of one commodity (X) in exchange for an increase in some other commodity
From economic theory, the willingness of a consumer to give up consumption of one commodity (X) in exchange for an increase in some other commodity (Y) and remain equally satisfied can be mathematically calculated as their marginal utility of good X divided by their marginal utility of good Y. What is the economic term for this measure or concept?
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The economic term for this measure or concept is marginal rate of ...
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
