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The Marginal Rate of Technical Substitution Is Defined By

Question 9

Multiple Choice

The marginal rate of technical substitution is defined by:

A) MRTS_1,2 = MP₁ /MP₂.
B) MRTS_1,2 = MP₁MP₂.
C) MRTS_1,2 = MP₁/P₁.
D) MRTS_1,2 = P₁/P₂.
E) MRTS_1,2 = MP₂/P₂.

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