The Marginal Rate of Technical Substitution Always Equals

question 1

Multiple Choice

The marginal rate of technical substitution always equals

• A)the slope of the total product curve.
• B)minus the ratio of the marginal products of inputs.
• C)the change in output due to a change in the amount of one input.
• D)the distance between two isoquants.

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Definitions:

Gift Promises

A declaration by an individual to transfer ownership of an item to another without the exchange of payment.

Legality

The state of being in accordance with the law; legality refers to conformity with statutes and regulations.

Consideration

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