The Marginal Rate of Technical Substitution Is

question 305

Multiple Choice

The marginal rate of technical substitution is

• A)the rate at which a firm is able to substitute one input for another, while keeping total cost constant.
• B)the rate at which a firm is able to substitute one input for another, while keeping the level of output constant.
• C)the rate at which a firm is able to institute positive technological changes to its production process.
• D)the rate at which a firm is able to increase its output by replacing labor with technology.

---

Definitions:

Specific Personality

Traits or characteristics that distinguish an individual's distinctive patterns of thinking, feeling, and behaving.

Khanty

An indigenous people living in the Khanty-Mansi Autonomous Okrug in western Siberia, Russia, known for their traditional lifestyle of hunting, fishing, and reindeer herding.

Evil Spirits

Believed entities in many cultures and religions, considered to be malevolent forces or beings.

Social Identity

An individual's sense of belonging to particular social groups, defined by various group characteristics or affiliations.