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Answer to Question #213353 in Microeconomics for Mubashir Ameenudee

Question #213353

Explain why the marginal rate of substitution of one good for another should decline as more of the good is consumed?


1
Expert's answer
2021-07-05T09:00:35-0400

The marginal rate of substitution of one good for another should decline as more of the good is consumed because as you consume more of one good you will consume less of the other.


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