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Diminishing marginal rate of technical substitution indicates that the more labor and less capital the firm has, the ____________ it is to replace remaining capital
Diminishing marginal rate of technical substitution indicates that the more labor and less capital the firm has, the ____________ it is to replace remaining capital with labor and the isoquant becomes _____________. Group of answer choices harder; flatter harder; steeper easier; steeper easier; flatter
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Exploring Economics
Authors: Robert L Sexton
5th Edition
978-1439040249, 1439040249
