Question: Suppose that a production function is given by F left parenthesis L comma K right parenthesis equals L to the power of 1 fourth end

Suppose that a production function is given by F left parenthesis L comma K right parenthesis equals L to the power of 1 fourth end exponent K to the power of 3 over 4 end exponentin which case the marginal products will be given by M P L equals fraction numerator K to the power of begin display style 3 over 4 end style end exponent over denominator 4 L to the power of begin display style 3 over 4 end style end exponent end fraction and M P K equals fraction numerator 3 L to the power of begin display style 1 fourth end style end exponent over denominator 4 K to the power of begin display style 1 fourth end style end exponent end fraction, respectively. What is the marginal rate of technical substitution at left parenthesis L comma K right parenthesis equals open parentheses 3 comma 18 close parentheses, and what is the interpretation

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