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A firm has the production function: Q = L 1 2 K 1 2 Find the...

  1. A firm has the production function:

Q = L 1 2 K 1 2

Find the marginal product of labor (MPL), marginal product of capital (MPK), and marginal rate of technical substitution (MRTS).

Note: Finding the MRTS is analogous to finding the MRS from a utility function: MRTS=-MPL/MPK. Be sure to simplify your answer as we did with MRS.

A firm has the production function:

Q = L 1 2 K 3 4

Find the marginal product of labor (MPL), marginal product of capital (MPK), and marginal rate of technical substitution (MRTS).

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