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marginal rate of substitution SUBST CTRL

Vocabulaire de spécialité

marginal rate of technical substitution SUBST CTRL

Vocabulaire de spécialité

Exemples monolingues (non-vérifiés par l'équipe de rédaction)

anglais
This shows diminishing marginal rate of substitution of staff expenditure for discretionary profits.
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The marginal rate of substitution between perfect substitutes is likewise constant.
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At any given price, a prospective buyer has some marginal rate of substitution of money for the good or service in question.
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As in the case of public goods, the total marginal rate of substitution is calculated by the summation of individual marginal rates of substitution.
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There is perfect substitutability between food and leisure, and the marginal rate of substitution is constant for all real income levels.
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For example, the marginal rate of substitution of labour for capital gives the amount of capital that can be replaced by one unit of labour while keeping output unchanged.
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But in the case of positional goods, one marginal rate of substitution is subtracted since there is negative consumption.
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This is known as the law of diminishing marginal rate of substitution.
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The curve is convex to the origin as shown assuming the consumer has a diminishing marginal rate of substitution.
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The marginal rate of substitution is either zero or infinite.
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