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The production function is Q = K^.6 L^.4. The marginal rate of technical substitution is ___________.

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Ronaldo Mendoza
Ronaldo MendozaLv10
7 Sep 2020

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Related questions

A firm's production function is Q = 5L2/3K1/3.

a) Does this production function exhibit constant, increasing, or decreasing returns to scale and why?

b) What is the marginal rate of technical substitution of L for K for this production function?

c) What is the elasticity of substitution for this production function?

Suppose that the production function is Q=L^(2/3)K(1/2).

What is the average product of labour, holding capital fixed?

What is the marginal product of labour?

Determine whether the production function exhibits diminishing marginal productivity of labour.

Determine the technical rate of substitution.

What returns to scale does the production function have?

What is the relationship between the marginal products of the factors of production and the marginal rate of technical substitution?

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