=+The marginal rate of technical substitution of labor for capital (MRTS) is the amount by which the

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=+The marginal rate of technical substitution of labor for capital (MRTS) is the amount by which the input of capital can be reduced when one extra unit of labor is used so that output remains constant.

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Microeconomics

ISBN: 9780134184241

9th Edition

Authors: Robert Pindyck, Daniel Rubinfeld

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Question Posted: Oct 26, 2024 04:00 AM

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=+The marginal rate of technical substitution of labor for capital (MRTS) is the amount by which the

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Microeconomics

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