The Marginal Rate of Technical Substitution Is

question 15

Multiple Choice

The marginal rate of technical substitution is

• A)the market rate of exchange between labor and capital.
• B)the rate at which the firm can substitute labor for capital while holding total cost constant.
• C)the rate at which the firm can substitute labor for capital while holding output constant.
• D)both a and b
• E)both a and c

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