 ੭ ੔ ੶ ੂੱ ੤ੋ ੤ੋ ੯ ੭ ੹ ि੓ ੝੍ੋ ੝ੂੋ ੮ ੝ ੸੍੍੍ੋ ੤੍੎੎ੋ ੸੍ ੸੍ੂ ੼ ੸ੋ,੼ੋ ੽ ੲੵ ੉ੱ੘ ੼ੋ ੧੍ੁ੎ੂ੔ ੺ੂ੓ ੿੭੦੎ੀ੿ isemu see that it meets the needs of the talking population. What is the production function? A production function is a relation between inputs to the production process, and the resulting output A production function shows the highest output data ます for every specific combination of inputs this shows that there are two inputs壓 are for production , laver and capital బర� Titan is equal bapt itself చిల్యిివరా మాలిలులి. ఠమరెనింటినగ. కమాలువాలి తతగాలి. రి కమన౿కమనిల యి stands is equal bapt itself సీ అవిచిరా. మా సఇన Illah break at calculating�ిటరం . నిమ్రినుట్య్యెంత్లాసిదినిండిగెత్త్త్త్్సిందాసి$ ఎందడిత్రిగామ్ట్త్యెక్ట్యోస్న్నినిందానిద్లాందాదనినాాపూరంనినిందిత్ ఒాతితి తిచాలినింపి 21áveis�౜ంవరి", ని ని ని నిindungనిసి, బివాలిలికౕ౦పపకం మాసూవ్ alley, josంద answeringchae�అచె . పత౯దా� ఉిలు ఆఫ్లోయ్ifaighs ఆస్ల్లెస్ & ట్మిమిశిІసికడ pero ఴ ఉఫ్లుఆ assuming app ఠాల్లురా గ్ల్యోలోvaluation. ఇచేయోల్రోకేలoothup క్ల్bung�న అనా్మల్కే j transistor's bottom సీస్న్హ్రా్� heads సీభ�옧ా inamento 쓴ఖకిష్ ἀ ᶀᵉᵉᵉᵉᶜᵉ ᵈ ᵈᵃᵉᵉᵗᵉ ᵈᵉᵉᵉᵉ ᵈᵉᵉᵉᵉ. now let us discuss the concept of marginal rate of technical substitution the rate at which one additional unit of a factor of production can be substituted for the other to obtain the same amount of output is known as the marginal rate of technical substitution in other words MRTS of labour for capital is the number of units of capital which can be replaced by 1th of labour MRTS is the slope of the issuq one or the amount of one input say capital that a farm is able to give up in return for an additional unit of another unit L that is labour with no sense in total output that means total output remains the same another characteristics of MRTS, labour in capital is that MRTS marginal rate of technical substitution has a diminishing tendency in other words as the amount of labour units increasing in the succeeding combinations less and less units of capital are sacrificed to obtain the same output so this marginal rate of technical substitution can be explained in the help of an example that is the table 7.2 to consider marginal rate of technical substitution between labour and capital can be explained with the help of table 7.2 from table 7.2 it can be seen that 50 units of output can be produced by using 1th of labour and 15 units of capital the same output can be produced by combination of B here you can see the different combinations of labour and capital shown as A, B, C, D and E so by combination of B which is just 2 units of labour and 11 units of capital same amount of output can be produced by combination of C, D and E which uses more and more units of labour but lesser and lesser units of capital that is in the different combinations of inputs labour can be substituted for capital and yet we have the same amount of output so let us represent this table in a graph form now in a figure 7.3 you will see the ISOPAN IP1 represents output level of 15 as we move downward from A to B then AB1 units of capital is substituted by DB1 units of labour in the graph you can see that similarly while we move from B to C BC1 units of capital is substituted by CC1 units of labour again if you come down from point C to D you will find that CD1 units of capital is programmed to obtain EE1 units of capital so this way you will see it when more units of labour are used to compensate for the loss of the units of capital to maintain constant output the marginal physical productivity of labour diminishes and the marginal physical productivity of capital increases therefore MRTS diminishes as labour is substituted for capital it makes the ISOPAN convex to the origin you can see that convex slope of the curve here so this is the first video in the next video of this unit we shall discuss about the ISOPAN substitution and other concepts of theory of production thank you