marginal rate of technical substitution
Definition
Rate at which a producer is technically able to substitute (without affecting the quality of the output) a small amount of one input (such as capital) for a small amount of another input (such as labor).
marginal rate of technical substitution is in the Economics, Politics, & Society subject.
This content can be found on the following page:
http://www.businessdictionary.com/definition/marginal-rate-of-technical-substitution.html
email to a friend
print this definition
cite this definition
link to this page