Question

The marginal rate of technical substitution is

a. the rate at which a producer is able to exchange one factor for another , without affecting the

quantity of output produced

b. the rate at which a producer is able to exchange one factor for another , without affecting the

total cost of factor inputs.

c. the rate at which a producer is able to exchange one factor for another , without affecting the

total quantity of factors inputs used.

d. the rate at which a producer is able to exchange one factor for another , without affecting the

quantity of factors inputs used.​

Answer 1

Answer:

The marginal rate of technical substitution (MRTS) is an economic theory that describes the rate at which one factor will decrease to be able to maintain the same level of efficiency when another factor rises.