Carefully explain the difference between the marginal rate, Business Economics

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Carefully explain the difference between the marginal rate

Carefully explain the difference between the marginal rate of substitution and the marginal rate of transformation. Be sure to explain the economic meaning of each of these terms. What value does each of them take? (Answer should be in terms of marginal utility and/or prices)

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Business Economics: Carefully explain the difference between the marginal rate

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Business Economics: Carefully explain the difference between the marginal rate

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