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What are the costs and benefits of eating “organic” foods?
Marginal Rate
The rate at which one variable changes with respect to a small change in another variable, often used in the context of taxation.
Technical Substitution
The process of replacing one combination of inputs or technologies with another to produce the same level of output.
Inputs
Elements utilized in creating products, covering workers, funds, raw materials, and electricity.
Isoquant
A curve depicting all combinations of inputs that result in the production of the same level of output.
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