anyone else driven crazy by this concept and the wording?? this is more of a rant..
so the Marginal Rate of Substituion (BW) = “the marginal rate of substitution of bread FOR WINE”, yet basically that seems to mean the quantity of wine we would give up FOR BREAD (ie. if MRS (BW) = 5, we would give up 5 ounces of wine, for 1 unit/loaf of bread). so why on earth would they call it the “marginal rate of substitution of bread for wine” when it makes more sense to call it “marginal rate of substitution of wine for bread”..
i feel like we’re just getting trolled here hard. maybe i’m not understanding the concept thoroughly, but seems this whole topic could have been made MUCH easier to remember and understand had they worded things in reverse (to me).
so the Marginal Rate of Substituion (BW) = “the marginal rate of substitution of bread FOR WINE”, yet basically that seems to mean the quantity of wine we would give up FOR BREAD (ie. if MRS (BW) = 5, we would give up 5 ounces of wine, for 1 unit/loaf of bread). so why on earth would they call it the “marginal rate of substitution of bread for wine” when it makes more sense to call it “marginal rate of substitution of wine for bread”..
i feel like we’re just getting trolled here hard. maybe i’m not understanding the concept thoroughly, but seems this whole topic could have been made MUCH easier to remember and understand had they worded things in reverse (to me).
