Question: Consider the production function Q = 2(KL) 0.5 a)What is the marginal product of labour and capital b)What is the marginal rate of technical substitution

Consider the production function Q = 2(KL)0.5

a)What is the marginal product of labour and capital

b)What is the marginal rate of technical substitution of labor for capital

c)What is the elasticity of substitution at a point K = 1, L = 1 if we increase K by one unit?

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