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Marginal rate of substitution is

  1. How the technical rate of substitution and marginal product are related and what is their difference?i only wrote their
  2. PLEASE CHECK AND CORRECT MY ANSWERS!!!!MRTS = marginal rate of technical substitution RTS = returns to scale MP = marginal
  3. 1. Explain briefly the following concepts.A) Utility B) Indifference curve C) Law of diminishing marginal utility D) Budget line
  4. What is the marginal rate of substitution for U(x,y) = �ãxy? ,�ã(x+y)?
  5. Diminishing marginal rate of technical substitution
  6. Marginal rate of substitution is everywhere infinity in which good?
  7. Which good its marginal rate of substitution in diminishing?
  8. Define and then derive the expression for the marginal rate of technical substitution
  9. How the technical rate of substitution and marginal product are relates and what is their difference?
  10. The marginal tax rate is defined as the extra taxes paid on additional income divided by the increase in income. Calculate the