The rate at which one input can be reduced per additional unit of the other input while holding output constant is measured by the

Exam Question

The rate at which one input can be reduced per additional unit of the other input while holding output constant is measured by the

• 1. Marginal rate of substitution
• 2. Marginal rate of technical substitution
• 3. Average product of the input
• 4. None of the given options

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