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Marginal rate of substitution
the rate at which a consumer can give up some amount of one good in exchange for another good while maintaining the same level of utility
Pronunciation
/ˈmɑːʤɪnəl reɪt əv sʌbstɪˈtjuːʃn/
/ˈmɑrʤənl reɪt əv ˌsəbstɪˈtjuʃən/
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