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Technical Rate of Substitution

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Technical Rate of Substitution

In a two good model, the Technical Rate of Substitution can be described as the amount of input A required to replace a small amount of input B if the same level of production is to be maintained.

(Students at the University of Toronto School of Public Policy and Governance; edited by Ben Eisen.)
     
Technical Rate of Substitution

In a two good model, the Technical Rate of Substitution can be described as the amount of input A required to replace a small amount of input B if the same level of production is to be maintained.

(Students at the University of Toronto School of Public Policy and Governance; edited by Ben Eisen.)

Approved for glossaryposting by Ben Eisen on January 28, 2011


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