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Product – product relationship
MRPS is the rate of change in quantity of output of one enterprise (Y1) as a result of unit increase in the output of the other enterprise (Y2), for a given level of input (X). It is also known as Marginal Rate of Product Transformation (MRPT). So it is the slope of the PPC.
MRPS = ∆Y1/∆Y2 |
Last modified: Saturday, 23 June 2012, 10:31 AM