The rate at which one input can be reduced per additional unit of the other input, while holding output constant, is measured by the:

A) marginal rate of substitution.
B) marginal rate of technical substitution.
C) slope of the isocost curve.
D) average product of the input.

Marginal Rate

The rate at which one variable changes with respect to a small change in another variable, often used in the context of taxation.

Technical Substitution

The process of replacing one combination of inputs or technologies with another to produce the same level of output.

Inputs

Elements utilized in creating products, covering workers, funds, raw materials, and electricity.