Using the image attached. The option that shows the marginal rate of substitution is option b.
<h3>What is marginal rate of substitution?</h3>
The marginal rate of substitution (MRS) is known to be the number of a good that a consumer is said to be willing to take in when compared to another good, only if the new good is said to be equally satisfying.
The marginal rate of substitution (MRS) is also described as the rate in which a specific units of an item is said to be replaced by another only if by giving the same amount of satisfaction to its consumer.
Hence, The MRS concept tells about the association between the taking in of two goods or resources if consumers are said to make rational decisions.
Hence, the option that satisfy the above is option B. Therefore, Using the image attached. The option that shows the marginal rate of substitution is option b.
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Answer:
Step-by-step explanation:
In recent years, the United States has been known to export more of its services abroad than it has imported due to its experienced workforce and industrialization.
<h3>
What is Export?</h3>
These are the goods and services which are sold to another country in exchange of money and its equivalents and is regarded as one of the determinants of the value of the gross domestic product of countries.
High technological advancement which led to the increase in industries etc in the United States has led to an increase in goods production which are sufficient enough to cater for the people. This is the why the excess is usually sold to other countries. The more exports a country has, the more revenue it generates to cater for other departments.
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