The Marginal Rate of Substitution of an Isoquant Curve Is

question 124

Multiple Choice

The marginal rate of substitution of an isoquant curve is the rate at which:

• A) inputs must be substituted for one another to keep costs constant.
• B) inputs are substituted for output.
• C) inputs must be substituted for one another to keep output constant.
• D) the marginal productivity of a factor declines.

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