The Petroleum production function in Table 7.4, holding nonproduction workers constant, can be roughly expressed as Q

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Question:

The Petroleum production function in Table 7.4, holding nonproduction workers constant, can be roughly expressed as Q = 100*L.55*K.31. Use this function to answer the following. Suppose a firm wishes to produce 1200 units of Q. Use an Excel Spreadsheet to find the MRTSLK in adding a 10th unit of Labor. Conduct your analysis using an Excel Spreadsheet and changing Labor by 1, 2, 3, etc., that is, use integer values of L only. In absolute value terms, the MRTSLK when we add the 10th
unit of L is ______.

A.84.63.
B.20.23.
C.14.27.
D.10.47.
E.7.92.