Professional Courses
Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.
Categories
Interactive Games
Fun, engaging games to boost memory, math fluency, typing speed, and English skills—perfect for learners of all ages.
Typing
Memory
Math
English Adventures
Knowledge
Enroll to start learning
You’ve not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.
Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does MRS stand for?
💡 Hint: Think about what concept relates to the substitution of goods.
Question 2
Easy
What does an indifference curve represent?
💡 Hint: Consider the word 'indifferent.'
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does MRS measure?
- Rate of income
- Rate of substitution
- Rate of profit
💡 Hint: Think about the substitution in consumer goods.
Question 2
True or False: MRS increases as consumption of a good increases.
- True
- False
💡 Hint: Consider how desires for goods change.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A consumer has an MRS of 4:3 between apples and oranges. If the price of apples is $2 and oranges are $3, determine if the consumer is maximizing utility.
💡 Hint: Consider how the ratio aligns with price relationships.
Question 2
Given a utility function U(X, Y) = X^0.5 * Y^0.5, find MRS and explain how it changes with varying X and Y.
💡 Hint: Calculate marginal utilities first!
Challenge and get performance evaluation