Which of the Following Formulas Represents the Marginal Rate of Technical

question 27

Multiple Choice

Which of the following formulas represents the marginal rate of technical substitution of labour for capital?

• A) MP_/k/MP_L
• B) - ∆K/∆L
• C) ∆K/∆L
• D) MP_L/MP_K

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Definitions:

Environmental Forces

External factors such as social, economic, technological, and political conditions that affect businesses and consumers.

Marketing Occur

The processes or activities undertaken by individuals or organizations to promote, sell, and distribute a product or service.

Desire

A strong feeling of wanting to have something or wishing for something to happen.

Viable Product

A product that meets the minimum criteria to satisfy early customers and provides feedback for future development.