Consider the following production function: q equals 8 LK plus 5 Upper L squared minus (one third )Upper L cubed . Given the fo
llowing expressions for the marginal productivity of each input: MP Subscript Upper L Baseline equals 8 Upper K plus 10 Upper L minus Upper L squared and MP Subscript Upper K Baseline equals 8 Upper L Assuming capital is plotted on the vertical axis and labor is plotted on the horizointal axis, determine the value of the marginal rate of technical substitution when K = 20 and L = 15. (Round your answer up to two decimal places and include the proper sign.) MRTS = nothing.
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Explanation:
The construction of the income statement for the year ending 2015 is attached in the attachment. Kindly find it below:
As we know that the income statement records only the revenue and the expenses for the particular year
If the income is higher than the revenue, the company earns the net income otherwise it is a net loss and the same is to be reported on the statement of the stockholder equity
The earning per share is
= Net income ÷ Shares outstanding
and the same is shown in the attachment
