What is the value of marginal rate of technical substitution

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Reference no: EM13238527

Suppose the production function is Q = 1.52L.6K.4, and K = 100.

a. What is the equation for the average product of labor? If L=50, what is the value of the average product of labor?

b. What is the equation for the marginal product of labor? If L=50, what is the value of the marginal product of labor?

c. What is the equation for the marginal rate of technical substitution? If L=50, what is the value of the marginal rate of technical substitution?

Reference no: EM13238527

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