The Marginal Rate of Technical Substitution Is

question 56

Multiple Choice

The marginal rate of technical substitution is

• A) the rate at which the firm can substitute labor for capital while holding total cost constant.
• B) the rate at which the firm can substitute labor for capital while holding output constant.
• C) the slope of the isocost curve.
• D) both a and c
• E) none of the above

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