Question: _( Question Five a) Suppose a rm faces the following production function Q=F(K,L)=10K0'5L0'5 Required: i). Calculate the marginal product of labor and capital and the

_( Question Five a) Suppose a rm faces the following production function Q=F(K,L)=10K0'5L0'5 Required: i). Calculate the marginal product of labor and capital and the average product of labor and capital. [6 Marks] ii). What would be the marginal rate of technical substitution for this rm? [5 Marks] iii). Does the production function exhibit diminishing marginal returns increasing or constant marginal returns? Show workings. [4 Marks]

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