Illustrate what is the mrts

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Reference no: EM1360694

Online production function is lnQ = 7.73 + 0.75lnK + lnL

a) Convert the production function into its normal form.

b) What is the MRTS, if price of labour is $120 and the price of capital is $200?

 

 

 

Reference no: EM1360694

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