Thank you for visiting You view tea and scones as perfect complements and you prefer to consume one cup of tea with one scone Your indifference curves are plotted. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Answer:
Infinity
Explanation:
The marginal rate of substitution means the consumer has forgone a certain quantity of one item in exchange for another whilst keeping the equal level of utility.
When two items were viewed (tea and scones), a certain amount of tea was forgone in exchange for scones. Now on the indifference curves, where the tea is on the vertical axis and the scones is one the horizontal axis, the marginal rate of substitution (MRS) at this point will be infinity
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