Business, 11.11.2019 19:31, helloitschump0vfdz

When capital is plotted on the vertical axis and labor is plotted along the horizontal axis, the marginal rate of technical substitution (mrts) of labor for capital along a convex isoquant

a. equals the negative of the slope of the isoquant.

b. equals the marginal product of labor divided by the marginal product of capital.

c. declines as more and more labor is used.

d. all of the above are correct.

e. only answers a and b are correct.

Answers: 2

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When capital is plotted on the vertical axis and labor is plotted along the horizontal axis, the mar...