Answer:
Step-by-step explanation:
The MRS (Marginal Rate of Substitution) is a concept from microeconomics that describes the rate at which one good (in this case, y) can be substituted for another good (in this case, x) while still maintaining the same level of utility or satisfaction for the consumer.
The equation you provided, MRS y,x = 12, tells us that in order for a consumer to maintain the same level of satisfaction, they would be willing to give up 12 units of good y in exchange for 1 unit of good x. This means that, in this specific case, the consumer values good y 12 times more than good x.
It's important to keep in mind that the MRS is a concept that can vary depending on the context and the consumer. The value of the MRS can change depending on the consumer's preferences, the availability of the goods, and the prices of the goods, among other factors.
On this equation alone, I can't confirm what exactly it refers to as more information about the context and the goods themselves is needed, also to make this equation valuable, it's should be done in a utility function or optimization problem in order to give some meaning to the number 12.