Question

Suppose the long run production function is given by: Q = 4*L +2K2. Marginal product of labor (MPL) = 4 and wage is $10. Marginal product of capital (MPK) = 4K and price of capital (K) is $10. Consider the allocation labor (L) = 10 and capital (K) = 2. Based on information, the MRTS is equal to:_____

a. 4
b. 2.5
c. 1
d. 0.5

Answer 1

ANSWER IS BELOW :)

Step-by-step explanation:

Not sure, but I think its is 56(6)+k-6