The marginal rate of transformation of y for x represents
A) the slope of the budget constraint.
B) the rate at which the consumer must give up y to get one more x.
C) -Px/Py.
D) All of the above.
Answer: All of the above.
The marginal rate of transformation of y for x represents
A) the slope of the budget constraint.
B) the rate at which the consumer must give up y to get one more x.
C) -Px/Py.
D) All of the above.
Answer: All of the above.