The rate at which the consumer is able to substitute one good for the other in the market is called? Option 1: Price Ratio. Option 2: Marginal rate of substitution. Option 3: Marginal rate of technical substitution. Option 4: Diminishing marginal rate.

The answer is 'Price Ratio.'. View full solution:

CUET Economics - The rate at which the consumer is able to substitute one good for the other in the market is called? | PYQs + Solutions

CUET Economics 2025 29 May Shift 2

Micro

Easy

Price Ratio.

Marginal rate of substitution.

Marginal rate of technical substitution.

Diminishing marginal rate.

✅ Correct Option: 1

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