Marginal Rate of Substitution Calculator
Marginal Rate of Substitution (MRS):
Formula: Marginal Rate of Substitution = ΔY / ΔX
Marginal Rate of Substitution Calculator | ||
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Parameter | Description | Example Value |
Change in Quantity of Good X | The change in the quantity of good X. | 2 units |
Change in Quantity of Good Y | The change in the quantity of good Y. | 3 units |
Marginal Rate of Substitution (MRS) | The rate at which a consumer can give up some amount of one good in exchange for another good while maintaining the same level of utility. Formula: Change in Quantity of Good Y / Change in Quantity of Good X |
1.5 |