The Rate at Which One Input Can Be Reduced Per

question 86

Multiple Choice

The rate at which one input can be reduced per additional unit of the other input, while holding output constant, is measured by the:

• A) marginal rate of substitution.
• B) marginal rate of technical substitution.
• C) slope of the isocost curve.
• D) average product of the input.

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Definitions:

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically showing improved performance on simple or well-rehearsed tasks.

Audience

A group of people who gather to watch, listen to, or read something, or who are targeted to receive a specific message or product.

Performance

The act of carrying out a task or function; how well an individual or group executes a given task.

Majority Influence

The effect that the larger group has on individuals causing them to conform or change their opinions to align with the group's.