Economics and Business Economics
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Marginal rate of technical substitution Author: Paulo Nunes (Economist, Professor and Business Consultant) Contributions: without contributions ... if you are an expert in this field help us to enrich our site ... contact us knoow.net@gmail.com Date Created: 25/05/2011 Summary: Marginal rate of technical substitution (or Technical Substitution Ratio) represents a rate at which... see full article Key words: Economics, Comment or read other comments on this article |
Marginal rate of technical substitution |
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Marginal rate of technical substitution Concept Marginal rate of technical substitution (or Technical Substitution Ratio) represents a rate at which a company can replace a productive factor by another, maintaining the same production level. In an isoquants map, and for each combination of productive factors, the Marginal rate of technical substitution is given by the isoquant inclination which passes in the point that represents the referred combination of the productive factors.
Translated from Portuguese by Susana Saraiva, Portuguese-English and English-Portuguese translation specialist. Contact: spams@sapo.pt.
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