The Marginal Rate of Technical Substitution Is Measured by

question 31

Multiple Choice

The marginal rate of technical substitution is measured by

• A)the slope of the isoquant.
• B)the relative input prices.
• C)the slope of the isocost line.
• D)the ratio of the product's price to the product's cost of production.

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Definitions:

Bias

A tendency to prefer one person, group, thing, or idea over others in a way that is considered to be unfair.

Workplace Stereotypes

are oversimplified and widely held beliefs about specific types of individuals or certain jobs within the workplace.

Age

The length of time that an individual has existed or a specific entity has been in existence.

Gender

The variety of traits related to, and distinguishing between, masculine and feminine qualities.