The amount of good X that the consumer has to forego, in order to get an additional unit of good Y, his…
The amount of good X that a consumer is willing to forego in order to obtain one additional unit of good Y while keeping total utility constant is defined as the Marginal…
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The amount of good X that the consumer has to forego, in order to get an additional unit of good Y, his total utility level being the same, is called as
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Correct answer B
The amount of good X that a consumer is willing to forego in order to obtain one additional unit of good Y while keeping total utility constant is defined as the Marginal Rate of Substitution of Y for X ().
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RPSC School Lecturer (School Education)