Explore the Marginal Rate of Substitution (MRS) and indifference curves—key concepts in microeconomics used to analyze consumer preferences and choices. Learn how MRS reflects trade-offs and diminishing utility.

Explore how taxes and subsidies affect markets by shifting supply and demand, influencing prices and quantities, and causing economic incidence and deadweight loss. Learn key concepts and visualize impacts with real-world examples.

This article delves into the mathematical definitions of supremum and infimum, exploring how they serve as bounds on sets and functions, their properties, and use cases in advanced mathematics.