Marginal rate of transformation-Amount of one good that must be given up to produce one additional unit of a second good. Marginal rate of substitution (MRS)-Amount of a good that a consumer is willing to give up in order to obtain one additional unit of another good. Marginal rate of technical substitution(MRTS)-Amount by which the quantity of one input can be reduced when one extra unit of another input is used,so that output remains constant. Marginal rate of transformation - Amount of one good that must be given up to produce one additional unit of a second good.  Marginal rate of substitution (MRS) - Amount of a good that a consumer is willing to give up in order to obtain one additional unit of another good.  Marginal rate of technical substitution (MRTS) - Amount by which the quantity of one input can be reduced when one extra unit of another input is used, so that output remains constant