Question: The production function is Q = ALa Kb, where a > 0 and b > 0. a. The marginal product of labor is MPL =

The production function is Q = ALa Kb, where a > 0 and b > 0.

a. The marginal product of labor is MPL = __________________ .

b. The marginal product of capital is MPK = __________________ .

c. The marginal rate of technical substitution is MRTS = __________________ .

d. Show that the isoquants for this production function are convex.

e. Derive the equation for the long-run expansion path.

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