Consider the case of a firm which produces q units of a single output using two inputs, labour (L) and capital (K). Supp
Posted: Wed Mar 09, 2022 8:35 am
Consider the case of a firm which produces q units of a single
output using two inputs, labour (L) and capital (K). Suppose the
marginal rate of substitution of labour in terms of capital is
given by MRS = K1/6 / L Find the value of the derivative which can
be informative about the shape of the firm's isoquant at the point
where L =1.42 and K =17
output using two inputs, labour (L) and capital (K). Suppose the
marginal rate of substitution of labour in terms of capital is
given by MRS = K1/6 / L Find the value of the derivative which can
be informative about the shape of the firm's isoquant at the point
where L =1.42 and K =17