The Marginal Rate of Technical Substitution of Labour for Capital

question 33

Multiple Choice

The marginal rate of technical substitution of labour for capital measures

• A) the amount by which capital input can be reduced while holding quantity produced constant when one more unit of labour is used.
• B) the amount by which labour input can be reduced while holding quantity produced constant when one more unit of capital is used.
• C) the ratio of total labour to total capital.
• D) the ratio of total capital to total labour.

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