The marginal rate of technical substitution is (A) the rate at which a producer is able to exchange, without affecting the quantity of output produced, a little bit of one input for a little bit of another input. (B) the rate at which a producer is able to exchange, without affecting the total cost of inputs, a little bit of one input for a little bit of another input. (C) the rate at which a producer is able to exchange, without affecting the total inputs used, a little bit of one output for a little bit of another output. (D) a measure of the ease or difficulty with which a producer can substitute one technique of production for another.

UoH 2010 Question 82: Production and returns to scale

The marginal rate of technical substitution is

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This question is on Isoquants and the marginal rate of technical substitution, part of Production and returns to scale in Microeconomics.

Combinations of inputs that give the same output, and the rate at which one input replaces another.

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