In general, would you expect a consumer’s MRS to take a constant value, regardless of how...
In general, would you expect a consumer’s MRS to take a constant value, regardless of how much or how little he has of the goods involved? please type it ,thanks!
Homework Answers
No I wouldn't expect MRS to take a constant value because of the fact that as you go on consuming the utility level of consumption of each good decreases as a result of which for giving the one unit of good you would only be satisfied to that utility level by consuming more good than earlier and therefore I would expect MRS to increase most of the time
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In general, would you expect a consumer’s MRS to take a constant
value, regardless of how...
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