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.
