The Marginal Rate of Technical Substitution in Production Is Analogous

question 93

True/False

The marginal rate of technical substitution in production is analogous to the marginal rate of substitution for the consumer's optimization problem in that the slope of the consumer's indifference curve is equal to the ratio of the marginal utilities of the two goods, whereas the slope of the production isoquant is the opposite of the ratio of the marginal product of labor relative to the marginal product of capital.

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Karl Ulrichs

A pioneering German writer and activist of the 19th century, regarded as one of the first to publicly argue for homosexual and transgender rights.

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The Hungarian-born writer and human rights advocate who coined the term "homosexual" in the 19th century.

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