Ritu Asked a Question
May 23, 2020 11:24 pmpts 30 pts
How is marginal rate of technical substitution measured? Choices CHOICE (4) RESPONSE Measures trade-off between two factors of production while keeping output constant a. AX2 Ax b. MP (x', x) MPl (x, x?) C. d. All a. , b. and c. are correct
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  • Nidhi taparia thankyou
    Marginal Rate of Technical Substitution (MRTS) is basically the rate at which one factor has to be increased when another factor is decreased, keeping the total output (that is pro...
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