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The rate at which a consumer is willing to give up consumption in one period for additional consumption in another is known as ________. A) the marginal propensity to consume. B) the average propensity to consume. C) the marginal rate of substitution. D) the marginal propensity to save.

User Klew
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Answer:

c) the marginal rate of substitution

Step-by-step explanation:

the marginal rate of substitution is defined as the rate at which a consumer would be willing to forgo a specific quantity of one good for more units of another good at the same utility level; the marginal rate of substitution is used by economists to analyze consumer's spending behavior

User Ddario
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