Question
When for the k on the vertical axis and l on the horizontal axis, we have MRTS = constant for perfect substitutes, how about the
When for the k on the vertical axis and l on the horizontal axis, we have MRTS = constant for perfect substitutes, how about the vertical substitutes, what is MRTS at the cusp, at the vertical component and the horizontal components, how is the MRTS change when its a normal convex , downward sloping isoquant curve?
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Economics for Environmental Studies A Strategic Guide to Micro and Macroeconomics
Authors: Alfred Endres, Volker Radke
1st edition
364231192X, 3642311925, 9783662548264, 3662548267, 978-3642311925
