Question: Suppose that a firm uses two inputs ( K & L ) to produce its final output ( Q ) . Suppose also that the
Suppose that a firm uses two inputs & L to produce its final output Q Suppose also that the production functions for this firm is:
Suppose that this firm is using a production technique involving and Assume that remains on the axis and remains on the axis for plotting purposes.
What is the Marginal Rate of Technical Substitution at this production technique?
Note: Please round your answer to two decimal places.
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