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What is Marginal Rate of Substitution?
marginal rate of substitution
What is Definition marginal rate of substitution?
marginal rate of substitution
Can you use agave nectar in a cake?
I have used it in cookie recipes and followed the substition rate on the bottle of the agave nectar. No one noticed a difference in my cookies and I actually liked the texture better. (they seemed moister, like they could melt in my mouth.) I have used it in many different kinds of cookies. On occasion I have had to add more dry ingredients, so pay attention to the consistency of the batter of whatever you are baking.
Can agave nectar substitute for sugar in canning?
I have used it in cookie recipes and followed the substition rate on the bottle of the agave nectar. No one noticed a difference in my cookies and I actually liked the texture better. (they seemed moister, like they could melt in my mouth.) I have used it in many different kinds of cookies. On occasion I have had to add more dry ingredients, so pay attention to the consistency of the batter of whatever you are baking.
Law of diminishing marginal rate of substitution?
Marginal rate of substitution tends to decrease with passage of units consumptions.
Is the height of an indifference curve the marginal rate of substitution?
Yes. The height of an indifference curve is the marginal rate of substitution.
Explain why the constant elasticity of substitution is considered superior to marginal rate of technical substitution?
Heap
What is the definition of the marginal rate of technical substitution?
The marginal rate of technical substitution is the rate at which one input can be substituted for another input in a production process while keeping the level of output constant.
What does the slope of the indifference curve reveal?
marginal rate of substitution
What is the relationship between the marginal rate of substitution and the concept of perfect substitutes in economics?
The marginal rate of substitution measures how much of one good a person is willing to give up to get more of another good while maintaining the same level of satisfaction. In the case of perfect substitutes, the marginal rate of substitution is constant because the goods can be easily exchanged for each other at a fixed rate.
Why isoquants convex?
diminshing marginal rate of substitution between factors
What is marginal revenue of technical substitution?
The marginal rate of technical substitution refers to the rate at which one input can be substituted for another input without changing the level of output. It can also be defined as the more complete name for the marginal rate of substitution between factors in a production function, sometimes used to distinguish it from the analogous concept in a utility function.
