What does a MRTS = mean? It means that if the input on the horizontal axis is increased by one unit, then the input on the vertical axis ▼ increases decreases by units and output will ▼ increase decrease not change .

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02-07-2021
Business

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What does a MRTS = mean? It means that if the input on the horizontal axis is increased by one unit, then the input on the vertical axis ▼ increases decreases by units and output will ▼ increase decrease not change .

Sagot :

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amcool amcool · Answer 1 · 2021-07-03T21:00:17-04:00

Answer:

MRTS means that if the input on the horizontal axis is increased by one unit, then the input on the vertical axis decreases by units and output will not change.

Explanation:

The marginal rate of technical substitution (MRTS) can be described as the amount by which one input's quantity must be decreased when an additional unit of another input is used to keep output constant. MRST is also known as technical rate of substitution.

Therefore, MRTS means that if the input on the horizontal axis is increased by one unit, then the input on the vertical axis decreases by units and output will not change.

Sagot :

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