Technology and production - Coseleva Natalia

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Technology: The Production Function Long Run Production Function Marginal Rate of Technical Substitution Properties of Isoquants Returns to Scale Short Run Production Function From the Long Run to the Short Run Marginal Physical Product (MPP) Increasing, Constant & Diminishing Marginal Returns Relationship between MRTS and MPP Key Concepts technology marginal rate of technical substitution production function returns to scale short run marginal physical product long run increasing and constant returns isoquant diminishing returns ...