If a firm moves from one point on a strictly convex production Isoquant to another point on the same Isoquant, which of

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If A Firm Moves From One Point On A Strictly Convex Production Isoquant To Another Point On The Same Isoquant Which Of 1 (28.44 KiB) Viewed 11 times

If a firm moves from one point on a strictly convex production Isoquant to another point on the same Isoquant, which of the following statement(s) is/are true? I. A change in the marginal rate of substitution (MRS) II. A constant rate of technical substitution (TRS) III. A change in the marginal products of the inputs IV. A change in the level of output O only I is true only II is true O II, III and IV are true O only IV is true