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Hobyz Hobyz
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3 years ago
The marginal rate of technical substitution shows

▸ how many machines can be replaced by computers, keeping output constant.

▸ how many computers are needed to replace workers so that output can increase.

▸ the rate at which technology advances change marginal productivity.

▸ how many workers can do the job of one computer, keeping output constant.
Textbook 
Managerial Economics and Strategy

Managerial Economics and Strategy


Edition: 3rd
Authors:
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PastorBradPastorBrad
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3 years ago
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Hobyz Author
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3 years ago
Smart ... Thanks!
Brownr40
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Yesterday
Thanks
SupremeDJ
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2 hours ago
this is exactly what I needed
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