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Economics
Microeconomics
Consumer Theory
Marginal rate of substitution is everywhere infinity in which good?
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The marginal rate of substitution is everywhere infinity in a perfect substitute good. This means that the consumer is indifferent between the two goods and is willing to substitute one for the other at any ratio.
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PLEASE CHECK AND CORRECT MY ANSWERS!!!!
MRTS = marginal rate of technical substitution RTS = returns to scale MP = marginal