Teaching MPPSC Assistant Professor Mock Test Series 2025 General Knowledge Economy

The producer will substitute capital for labour till he reaches that point on the isoquant at which,

1
the price of the goods he produces equals wage rate.
2
marginal rate of technical substitution equals interest rate.
3
marginal rate of technical substitution equals marginal revenue.
4
marginal rate of technical substitution equals ratio of marginal productivity of labour and capital.
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