Marginal rate of substitution

 

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Marginal rate of substitution

In a production function or a utility function, the ratio at which one argument (input) substitutes for another along an isoquant or indifference curve.



Similar Matches

Constant elasticity of substitution function

Constant elasticity of substitution function

See CES function


Import substitution development strategy

Import substitution development strategy

A development strategy followed by many Latin American countries and other LDCs that emphasize import substitution-accomplished through protectionism-as the route to economic growth.


No Substitution

No Substitution

Within the text on a proxy card are the words: "The shareholder appoints certain people (collectively, the proxy committee) with full power of substitution to vote the shares." If the security holder strikes out this phrase, the proxy cannot be voted if there is a change in the designated proxy committee.


Import substitution

Import substitution

A strategy for economic development that replaces imports with domestic production. It may be motivated by the infant industry argument, or simply by the desire to mimic the industrial structure of advanced countries. Contrasts with export promotion.


Substitution swap

Substitution swap

A swap in which a money manager exchanges one bond for another bond that is similar in terms of coupon, maturity, and credit quality, but that offers a higher yield.


Further Suggestions

Same day substitution
Asset substitution
Substitution effect
Elasticity of substitution


 
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