The Marginal Rate of Technical Substitution Between Two Inputs in a Single

question 45

Multiple Choice

The marginal rate of technical substitution between two inputs in a single production process describes:

• A) the only combination of inputs that will produce a profit
• B) every combination of inputs that will produce a profit
• C) several combinations of inputs that will produce a profit
• D) none of the other three answers

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Definitions:

Arithmetically

Pertaining to or related to arithmetic, the basic branch of mathematics dealing with the properties and manipulation of numbers.

Geometrically

Pertains to or is characterized by the principles of geometry, involving shapes, sizes, and the relative positions of figures.

Negative Checks

In demographic terms, factors that decrease population growth, including disease, famine, and war, as described by Malthus.

Natural Disasters

Severe and unexpected events caused by environmental factors that result in significant damage, destruction, or loss of life.