A manufacturer produces a container of potato salad using 1 pound of Idaho potatoes, 1 pound of Maine potatoes, or 1 pound of a mixture of the two types of potatoes. Does the marginal rate of technical substitution vary along the isoquant? What is the MRTS at each point along the isoquant?

This is based on the idea that the marginal rate of technical substitution is proportional to the ratio of marginal products.

Thus, using the following formula, we have:

(MPL× ∆L) + (MPK × ∆K) = 0.

Rearranging these terms, we find that: MPL÷ MPK = ∆K ÷ ∆L => MRTS.

Therefore, the ratio of marginal products equals the MRTS in value.

Given the formula above, the potato salad isoquants are straight lines because the two types of potatoes are perfect substitutes.

Also, because the isoquant is a straight line, the slope is the same at every point, so the MRTS is constant.

Therefore, given that the two inputs are perfect substitutes, which implies that 1 pound of Idaho potatoes can replace 1 pound of Maine potatoes, then it is concluded that MRTS is constant along the line.

Hence, in this case, it is concluded that the correct answer is Marginal Rate of Technical Substitution is constant along the isoquant.

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