Read this article in Hindi to learn about the formula for calculating the technical marginal rate of substitution for products. उत्पत्ति के दो साधनों के विभिन्न संयोग, एक समान उत्पादन करते हैं, दोनों साधनों की विभिन्न मात्राओं के साथ उत्पादन करते हैं । यदि किसी संयोग विशेष में एक उत्पत्ति साधन की मात्रा में कमी करनी पड़ेगी ताकि पहले संयोग [...]
An important principle of economic theory is that marginal rate of substitution of X for Y diminishes as more and more of good X is substituted for good Y. In other words, as the consumer has more and more of good X, he is prepared to forego less and less of good Y. The principle of diminishing marginal rate of [...]
In this article we will discuss about the concept of marginal rate of substitution, explained with the help of suitable diagram and examples. The Marginal Rate of Substitution (MRS): Before establishing the four properties of ICs, first elaborate the idea of MRS. Marginal rate of substitution of good X for good Y (MRSX, y) at any point in the commodity [...]