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Define Marginal Rate of Transformation.

+3 votes

asked Jan 10, 2019 in Economics by kratos

Define Marginal Rate of Transformation.

macroeconomic
class-12
microeconomics
cbse

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1 Answer

+3 votes

answered Jan 20, 2020 by kratos

Best answer

It is the ratio of number of units of a commodity sacrificed to gain an additional unit another commodity.

MRT =Δ Units Sacrificed / Δ Units Gained

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