Park is always willing to give up 1 orange for 3 tangerines. (1) What is the size of MRSTO (marginal rate of substituting tanger

Question

Alex787 [66]

2 years ago

10

Park is always willing to give up 1 orange for 3 tangerines. (1) What is the size of MRSTO (marginal rate of substituting tanger

ine for orange) for Park

Business

1 answer:

Step2247 [10] · Answer 1 · 2022-06-09T20:11:18+03:00

Step2247 [10]2 years ago

5 0

Answer:

1/3

Explanation:

What is the size of MRSTO = 1 /3

The marginal rate of substitution calculates the rate at which a consumer would give up a unit of one good in exchange for one unit of another good while maintaining the same level of utility.