Suppose That, at a Given Production Plan, the Marginal Product

question 20

Multiple Choice

Suppose that, at a given production plan, the marginal product of labor is 6 and the marginal product of capital is 3.In a graph with labor on the horizontal and capital on the vertical axis, this implies that the technical rate of substitution at that production plan is

• A)-1/2
• B)-2
• C)-18
• D)None of the above

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