Answered: The Marginal Rate of substitution…

The Marginal Rate of substitution depends on the O a. Tastes and preferences of the consumer B Price level of goods income of the consume Oc.income of the consumer O d. Availability of goods

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 3SCQ: Explain all the reasons why a decrease in a products price would lead to an increase in purchases.

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Question

The Marginal Rate of substitution depends on the

O a. Tastes and preferences of the consumer

B Price level of goods income of the consume

Oc.income of the consumer

O d. Availability of goods

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