Economics · Production Possibility Frontier
What is the rate of conversion of one product into another along the Production Possibility Frontier called?
- 1PRT (Product Rate of Transformation)
- 2SRT (Substitution Rate of Technicalities)
- 3QRT (Quarterly Rate of Transformation)
- 4MRT (Marginal Rate of Transformation)✓
Correct answer
MRT (Marginal Rate of Transformation)
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