You are a consultant who is working with an organization and want to incorporate the practice of teaming into their company. Whi
1 answer:
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Answer:
Explanation:
Base on the scenario been described in this question, we can use the following method to be solve the question below using Microsoft word we have the solution in the image attached file below
Answer:
0.25
Explanation:
The marginal rate of technical substitution (MRTS) can be described as the rate of a reduction is one factor to maintain the same production level when another factor is increased.
Given that labor is measured on the horizontal axis, the MRST of K for L can be calculated as follows:
Where;
MPK = Marginal product of capital = 2
MPL = Marginal product of labor = 8
Substituting the values into the equation, we have:
This implies that 0.25 of capital must be given up to have one unit of labor.