Marginal Rate of Substitution
Version 1.0.0 · Updated 2026-07-30
CORE DEFINITION
The amount of good Y a consumer is willing to give up to obtain one more unit of good X while maintaining the same level of satisfaction.
SCAFFOLDING EFFECT
Reduce cognitive load
Quantifying preferences. Reveals the trade-offs a consumer makes between different goods.
Anchor fast decisions
The amount of Y a consumer is willing to give up to obtain one more unit of X (keeping satisfaction constant), reflecting preference structure and diminishing willingness to substitute.
MINIMUM ACTION
In progress 0/4Practice this model in one real situation:
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Source support: Explicit
- zh.wikipedia.orghttps://zh.wikipedia.org/wiki/%E8%BE%B9%E9%99%85%E6%9B%BF%E4%BB%A3%E7%8E%87verified
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