Consider the following production function: q equals 9 LK plus 4 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 9 Upper K plus 8 Upper L minus Upper L squared and MP Subscript Upper K Baseline equals 9 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 = 25 and L = 10. (Round your answer up to two decimal places and include the proper sign.) MRTS = nothing.
1 answer:
You might be interested in
