Answer on Microeconomics Question for Behailu
Marginal rate of transformation is the slope of the production possibiltiy frontier. it is the rate at which the producer is willing to give up the production of certain units of a good in order to increase the prpduction of the other good by 1 unit (by shifting the inputs more towards the production of the last good). it is equal to the ratio of the marginal costs of the 2 goods.
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