Final answer:
The marginal rate of substitution (MRS) measures the rate at which a consumer is willing to substitute one good for another while keeping the same level of satisfaction.
Step-by-step explanation:
The marginal rate of substitution (MRS) measures the rate at which a consumer is willing to substitute one good for another while keeping the same level of satisfaction. It is calculated as the ratio of the change in the quantity of one good (x1) to the change in the quantity of the other good (x2). Mathematically, the MRS is given by:
MRS = Δx1 / Δx2
Where Δ represents the change in a variable. To calculate the MRS as a function of Δ, x1, and x2, you need to know the specific values of Δ, x1, and x2.