Marginal Rate of transformation
Define? Marginal Rate of transformation?? Describe with the help of an illustration.
Expert
Marginal Rate of transformation or MRT is the rate at which the units of one good encompass to be sacrificed to generate one more unit of another good in a two goods economy.
Assume an economy generates only two goods X and Y. Moreover assume that by employing such resources completely and efficiently, the economy generates 1X + 10Y. If the economy decides to generate 2X, it has to cut down its production of Y by 2 units. Then 2Y is the opportunity cost of generating 1X. Then 2Y:1X is the MRT.
All as well equivalent, population growth would tend to rise the: (i) Demand for housing for each and every family. (ii) Supply of natural resources. (iii) Shares of family budgets spend on luxuries. (iv) Market demand for housing.
Can someone please help me in finding out the accurate answer from the following question. Raised demand for beer would be most probable to follow a fall in the: (1) Legal drinking age. (2) Price of ale. (3) Price of hard liquor. (4) Price of wine.
HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. So the demand curve facing HoloIMAGine has unitary price elasticity at: (i) output q1. (ii) output q3. (iii) output q4
For a purely competitive industry in the long run: (i) several firms exit therefore others may earn more than normal profits. (ii) established firms reap higher profits than newer firms. (iii) all resources are fixed for the industry as an entire. (iv
After the change within the demand curve for housing as: (1) a temporary housing shortage may exist at R0. (2) landlords will have more complexity repaying their mortgages. (3) rental rates will fall below interest payments. (4) equilibrium
At the point of unit elasticity beside the demand curve then a firm faces: (w) profits are always maximized. (x) total revenue is certainly at a maximum. (y) total costs are minimized. (z) All of the above. I need
Marginal rate of Substitution (MRS): It is the rate at which a consumer is prepared to give up one good to get the other good.
Can someone please help me in finding out the accurate answer from the following question. Lauren, a solitaire addict, is eager to spend up to $2 for a new deck of cards. For Lauren, $2 is: (i) Market price for the deck of cards (ii) Demand price for deck of cards. (i
See a monopolist which cannot price discriminate but that maximizes profit. When this firm produces the level of output where is average cost at its minimum that will charge a price: (i) equal to marginal cost and generate zero economic profit. (ii) e
Can someone please help me in finding out the accurate answer from the following question. Which of the given below is not an illustration of horizontal integration? (1) Prudential Insurance gets Metropolitan Life Insurance. (2) Daimler-Benz absorbs Chrysler. (3) McDo
18,76,764
1935594 Asked
3,689
Active Tutors
1423277
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!