Marginal Rate of Technical Substitution - Your Path to Informed Decision-Making and Economic Understanding
Fouad Sabry
Publisher: One Billion Knowledgeable
Summary
What is Marginal Rate of Technical Substitution In microeconomic theory, the marginal rate of technical substitution (MRTS) or technical rate of substitution (TRS) is the amount by which the quantity of one input has to be reduced when one extra unit of another input is used, so that output remains constant. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Marginal rate of technical substitution Chapter 2: Differential calculus Chapter 3: Profit maximization Chapter 4: Quantization (signal processing) Chapter 5: Marginal cost Chapter 6: Production function Chapter 7: Marginal rate of substitution Chapter 8: Marginal propensity to consume Chapter 9: Marginal product Chapter 10: Diminishing returns Chapter 11: Isoquant Chapter 12: Marshallian demand function Chapter 13: Marginal revenue Chapter 14: Isocost Chapter 15: Marginal revenue productivity theory of wages Chapter 16: Conditional factor demands Chapter 17: Elasticity of substitution Chapter 18: Marginal product of capital Chapter 19: Cobb-Douglas production function Chapter 20: Marginal product of labor Chapter 21: Robinson Crusoe economy (II) Answering the public top questions about marginal rate of technical substitution. (III) Real world examples for the usage of marginal rate of technical substitution in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Marginal Rate of Technical Substitution.
