Economy, asked by snehasha21, 1 month ago

The value of the slope of a production isoquant is equal to the

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Answered by anamikadebnathkol2

0

Answer:

Marginal Rate of Technical Substitution

The absolute value of the slope of Isoquant is called the Marginal Rate of Technical Substitution. This equals the ratio of marginal productivity of two inputs. As we move down along an isoquant the absolute value of its slope or Marginal Rate of Technical Substitution declines and the isoquant is convex.

Explanation:

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