What are the relationships and differences in definitions and interpretation between a marginal rate of substitution and
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What are the relationships and differences in definitions and interpretation between a marginal rate of substitution and an elasticity of substitution of the first (second) production factor by the second (first) production factor in a vector 
of production factors' inputs where G = 
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The marginal rate of substitution MRS and the elasticity of substitution ES are concepts used in both microeconomics and production theory but they se...View the full answer
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Related Book For 
Microeconomics Static And Dynamic Analysis Springer Texts In Business And Economics
ISBN: 9783031105531
1st Edition
Authors: Krzysztof Malaga, Karolina Sobczak
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