marginal rate of technical substitution

Definitions

Economics

  • noun the extra amount of one input which has to be added to compensate for an amount of another input which decreases, in order to keep up the same production levels
  • acronymMRTS
    (written as Marginal rate of technical substitution)
  • marginal rate of technical substitution.

Health Economics

  • synonymmarginal rate of substitution in production
    (written as Marginal Rate of Technical Substitution)
  • synonymMarginal Rate of Substitution
http://www.dictionarycentral.com/definition/marginal-rate-of-technical-substitution.html