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

User Kumasi
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1 Answer

3 votes

Answer:

1/3

Step-by-step 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.

User Djschwartz
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