Question: Please help me with this question from my study guide for my exam! 2. Consider the production functions given below: a. Suppose that the production

Please help me with this question from my study guide for my exam!

2. Consider the production functions given below: a. Suppose that the production function faced by a ll-weight ball bearing producer is given by Q=4K05L\"5. Do both labor and capital display diminishing marginal pioducts'? Find dia- marginal rate of technical substitution for this production function. (Hint: MRTS = MPHMPL} Does this production function display a diminishing marginal rate of substitution? b. Suppose that the production function faced by a 4D-weight ball bearing producer is given by Q=4KL Do both labor and capital display diminishing marginal products? Find the marginal rate of technical substitution for this production function. Does this production function display a diminishing marginal rate of substitution? c. Compare your answers to {a} and (b). Must labor and capital display diminishing marginal products in order for the MRTS to diminish

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