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Can you explain why and how does the marginal rate of technical substitution, in a convex isoquants, is decreasing in labour and increasing in capital.
Can you explain why and how does the marginal rate of technical substitution, in a convex isoquants, is decreasing in labour and increasing in capital. Please explain using graph as I don't understand
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
