wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

The following table shows the combination of X and Y two factor inputs which are on the same Isoquant line.

CombinationX(quantity)Y(quantity)
A120
B215
C311
D47

Find the marginal rate of substitution for combination D.

A
2
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
3
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
4
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
1
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B 4
The marginal rate of substitution begins from combination B. The marginal rate of substitution for combination D would be the amount of good Y the individual has given up to get one more of good X. For the individual to go from 3 of good X to 4 of good X, the consumer had to give up 11 minus 7 goods of y. This is equal to 4.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Calculating Salary/Commission
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon