#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
The slope of an indifference curve at any point is referred to as the marginal rate of substitution (MRS), the rate at which the consumer will willingly exchange units of Good X for units of Good Y.
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owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p51