Question: 1. Consider the production function given by q = [1 + L-lK-l)'1 . (a) Determine the marginal products of labour and capital. [1]} Determine the

1. Consider the production function given by q = [1 + L-lK-l)'1 . (a) Determine the marginal products of labour and capital. [1]} Determine the marginal rate of technical substimtiI. (c} Show that the given production function exhibits diminishing marginal products. {d} Taking an appropriate limit, nd the upper bonnd on g for the given production function. llpts 1.59:5 1p! 3pits [510$

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