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Earn +20 ptsQ: Is a rate always a ratio?
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Continue Learning about Economics
What are some financial variables that affect the price earnings ratio?
interest rate
The lowest rate of interest which banks can offer is called the?
reserve ratio ;p
Which of the rates decided by the RBI is called Policy Rate?
Cash Reserve ratio
Why the marginal rate of substitution between two goods must equal the ratio of prices of the goods for the consumer to achieve maximum satisfaction?
the marginal rate of substitution is equal to the ratio of the goods' margial utilities when satisfaction is maximized
How can one determine the marginal rate of substitution in economics?
In economics, the marginal rate of substitution can be determined by calculating the ratio of the marginal utility of one good to the marginal utility of another good. This ratio represents the rate at which a consumer is willing to trade one good for another while maintaining the same level of satisfaction.
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