The Marginal Rate of Technical Substitution in Production Is Analogous

question 66

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 the opposite of the ratios 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.

---

Definitions:

Savant Syndrome

A condition where an individual, often with significant mental disabilities, demonstrates profound and prodigious capacities or abilities in a specific area.

William Syndrome

A genetic disorder characterized by developmental delays, cardiovascular disease, and distinctive facial features, often with a friendly personality.

Autism Spectrum Disorder

A developmental disorder characterized by difficulties with social interaction and communication, and by restricted or repetitive patterns of thought and behavior.

Autism

A developmental disorder characterized by difficulties with social interaction, communication, and restricted or repetitive behaviors.