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The marginal rate of substitution is
Technology
The application of scientific knowledge for practical purposes, especially in industry, which includes machinery, equipment, methods, and processes.
Equilibrium Price
The price at which the quantity of a product offered for sale by sellers equals the quantity of the product that buyers are willing to buy, causing market stability.
Quantity Demanded
The overall volume of a product or service that consumers are eager and equipped to acquire at an established price point.
Quantity Supplied
The entirety of a product or service that sellers are capable and willing to offer at a specified price point over a determined period.
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