{"id":53458,"date":"2024-04-15T23:54:17","date_gmt":"2024-04-15T23:54:17","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=53458"},"modified":"2024-04-15T23:54:17","modified_gmt":"2024-04-15T23:54:17","slug":"when-a-consumer-increased-units-of-x-commodity-by-giving-up-some-units-of-y-commodity-and-even-to-attain-the-same-level-of-satisfaction-the-marginal-rate-of-substitution-will-be-calculated-by","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/when-a-consumer-increased-units-of-x-commodity-by-giving-up-some-units-of-y-commodity-and-even-to-attain-the-same-level-of-satisfaction-the-marginal-rate-of-substitution-will-be-calculated-by\/","title":{"rendered":"When a consumer increased units of X commodity by giving up some units of Y commodity and even to attain the same level of satisfaction, the marginal rate of substitution will be calculated by"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a980a2460788\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    $$\frac{{{\text{Change}},{\text{in X commodity}}}}{{{\text{Marginal utility}},{\text{of Y commodity}}}}$$                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    $$\frac{{{\text{Change}},{\text{in Y commodity}}}}{{{\text{Marginal utility}},{\text{of X commodity}}}}$$                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    $$\frac{{{\text{Change}},{\text{in X commodity}}}}{{{\text{Change}},{\text{in Y commodity}}}}$$                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    $$\frac{{{\text{Change}},{\text{in Y commodity}}}}{{{\text{Change}},{\text{in X commodity}}}}$$                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is $\\boxed{\\frac{{{\\text{Change}}\\,{\\text{in Y commodity}}}}{{{\\text{Change}}\\,{\\text{in X commodity}}}}}$.<\/p>\n<p>The marginal rate of substitution (MRS) is the rate at which a consumer is willing to give up one good in exchange for another good, while maintaining the same level of satisfaction. It is a measure of the relative marginal utilities of two goods.<\/p>\n<p>The marginal utility of a good is the additional satisfaction that <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n     <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>                <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> a consumer gains from consuming one more unit of that good. The marginal utility of a good decreases as the consumer consumes more of that good.<\/p>\n<p>The MRS is calculated by dividing the marginal utility of one good by the marginal utility of another good. For example, if the marginal utility of good X is 10 and the marginal utility of good Y is 5, then the MRS of X for Y is 2. This means that the consumer is willing to give up 2 units of good Y to obtain 1 unit of good X.<\/p>\n<p>The MRS is a useful concept for understanding consumer behavior. It can be used to predict how consumers will respond to changes in prices and incomes. It can also be used to analyze the optimal consumption bundle for a consumer.<\/p>\n<p>The other options are incorrect because they do not measure the marginal rate of substitution. Option A is the marginal utility of good X. Option B is the marginal utility of good Y. Option C is the change in the quantity of good X divided by the change in the quantity of good Y. This is the slope of the consumer&#8217;s indifference curve. The slope of the indifference curve is not the same as the MRS. The MRS is the negative reciprocal of the slope of the indifference curve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>When a consumer increased units of X commodity by giving up some units of Y commodity and even to attain the same level of satisfaction, the marginal rate of substitution will be calculated by<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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