Suppose the production function is q = 12 K .5 L .5 . Calculate the MRTS (MPK/MPL)

Fantastic news! We've Found the answer you've been seeking!

Question:

Suppose the production function is q = 12 K^.5L^.5

. Calculate the MRTS (MPK/MPL) when: a) K = 200, L = 300 b) K = 50, L = 400 c) K= 900, L = 2000

Related Book For answer-question

Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

See More Books

Posted Date: Mar 01, 2024 05:01 AM

See More Questions

The National Stream Quality Accounting Network consists of a network of 39 stations along the main stems and on the major tributaries of four large rivers. The locations were generally selected where...
What is the frequency of light that has a wavelength of 1 8 5 nm ? (c= 3 . 0 0 1 0 8 m/s)
A manufacturing firm's production function is Q = KL + K + L. For this production function, MPL = K + 1 and MPK = L + 1. Suppose that the price r of capital services is equal to 1, and let w denote...
A nutritionally defective E. coli strain grows only on a medium containing thymine, whereas another nutritionally defective strain grows only on a medium containing leucine. When these two strains...
Lewis and Associates has been in the termite inspection and treatment business for five years. The following is a list of accounts for Lewis on June 30, 2017. It reflects the recurring transactions...
(a) Calculate the capacitance per unit length of an axon of radius 5.0 m (see Fig. 17.14). The membrane acts as an insulator between the conducting fluids inside and outside the neuron. The membrane...
Given the two replications of a $2 \times 3$ factorial experiment, calculate the analysis of variance table using the formulas on pages $* * *$ and $* * *$. Factor A Factor B Rep. I Rep. 2 1 1...
How has globalization impacted the transportation managers job?
Is developmental psychololgy a form of forensic psychology? If so how are they related? Were you surprised that this was a career in forensic psychology?
when you reconcile the practice's bank statement, you see that a check written almost 30 day ago to one of your suppliers has not been deposited. what course of action do you take, if any? answer
A new method of postoperative treatment was evaluated for patients undergoing a certain surgical procedure. Under the old method, the mean length of hospital stay was 6.3 days. The sample mean for...
The calibration of a scale is checked by weighing a standard $10 \mathrm{~g}$ weight 100 times. Let $\mu$ be the population mean reading on the scale, so that the scale is in calibration if...
The following output presents the results of a hypothesis test for a population mean $\mu$. a. Can $H_{0}$ be rejected at the $5 \%$ level? How can you tell? b. Someone asks you whether the...
An automotive engineer subjects a large number of brake pads to a stress test and measures the wear on each. The values obtained are $\bar{X}=7.4 \mathrm{~mm}$ and \(\sigma_{\bar{X}}=0.2...
Consider the following data set: a. Construct a normal probability plot for these data. Do the data appear to come from an approximately normal distribution? b. Transform the data by taking the...
Q3) A mass m moves along the x-axis subject to an attractive force given by 19mx/2 and a retarding force given by , where x is its distance from the origin and is a constant. A driving force is given...
The following data are supplied for the common stocks of Nikola Corporation, Tesla, Inc. and General Motors: Nikola Corp (NKLA) Tesla Inc. (TSLA) Close Price ($) Close Price ($) 67.53 30.00 40.81...
The following diagram shows the long-run average and marginal cost curves for a firm. It also shows the short-run marginal cost curve for two levels of fixed capital: K = 150 and K = 300. For each...
Outer Baldonia is a largely rural country with many small towns. Each town typically contains a retail store selling livestock feed. In virtually all towns, there is only one such store. The farmers...
The processing of payroll for the 10,000 workers in a large firm can either be done using 1 hour of computer time (denoted by K) and no clerks or with 10 hours of clerical time (denoted by L) and no...
An analysis by Professor Peter M Rothwell and his colleagues (Nuffield Department of Clinical Neuroscience, University of Oxford, UK) published in 2012 in the medical journal The Lancet...
The following table shows the result of the 2018 General Elections in Pakistan, along with the vote share predicted by several organizations in the days before the elections. The sample sizes were...
The Chinese Academy of Sciences and the Chinese Academy of Environmental Planning conducted a survey of about 563 Chinese, with a tertiary education, about their interest in reducing global warming....

Suppose the production function is q = 12 K .5 L .5 . Calculate the MRTS (MPK/MPL)

Question:

Expert Answer:

To calculate the Marginal Rate of Technical Substitution MRTS in each scenario we need to find the p... View the full answer

Microeconomics

Students also viewed these economics questions