In consumer behavior theory, the Marginal Rate of Substitution (MRS) is

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    The amount of one good which must be added to a market basket in order to hold satisfaction constant along an indifference curve.
     The amount of one good which must be substituted for another in order to hold satisfaction constant along an indifference curve.
     The rate at which satisfaction increases as more of a good is consumed.
     The rate at which satisfaction declines as less of a good is consumed.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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The amount of one good which must be substituted for another in order to hold satisfaction constant along an indifference curve.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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