The Marginal Rate of Technical Substitution Is the Ratio of

question 236

Multiple Choice

The marginal rate of technical substitution is the ratio of

• A) the marginal product of labor to the marginal product of capital.
• B) capital to labor.
• C) capital to the price of capital.
• D) labor to the price of labor.

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Definitions:

Disengage

To detach or withdraw from involvement in a particular activity, situation, or group.

Entrance Strategies

Plans and methodologies adopted by businesses to enter new markets or industries, which may include mergers, acquisitions, partnerships, and establishing new operations.

Sustainable Innovation

Innovation focused on creating products, processes, or practices that promote environmental sustainability and reduce negative impacts on the planet.

Collaborating

Working jointly with others or together especially in an intellectual endeavor to achieve a common goal.