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The marginal rate of substitution is defined as a) the amount of good Y that a consumer is willing to substitute for good X and
The marginal rate of substitution is defined as
a)
the amount of good Y that a consumer is willing to substitute for good X and stay at a given level of satisfaction.
b)
the feasible rate of substitution given prices.
c)
the amount of good Y substituted for good X by a consumer.
d)
the slope of the utility function.
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