MRS of good X for good Y
It is your second answer. From MWG:


  $$\frac{\partial u(x^*)/\partial x_\ell}{\partial u(x^*)/\partial_k}=\frac{p_\ell}{p_k}\tag{3.D.5}$$
  The expression on the left of $\text{(3.D.5)}$ is the marginal rate of substitution of good $\ell$ for good $k$ at $x^*$, $MRS_{\ell k}(x^*)$; it tells us the amount of good $k$ that the consumer must be given to compensate her for a one-unit marginal reduction in her consumption of good $\ell$.