The rate at which a firm is able to substitute one input for another while keeping the level of output constant is called the
A) marginal rate of technical substitution. B) isoquant substitution rate.
C) opportunity cost of inputs. D) input trade-off rate.
A
Economics
You might also like to view...
Explain how unemployment changes over the business cycle. Why do these changes occur?
What will be an ideal response?
Economics
The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. If a $1 tariff is imposed on imported rice, the change in consumer surplus is
A) c + d. B) c + d +g. C) a + b + c + d. D) f + g.
Economics