question archive Firm Beta's production function is given by q = 4K2L

Firm Beta's production function is given by q = 4K2L

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Firm Beta's production function is given by q = 4K2L. Firm Beta's MRTS is given by:

a.L/(2K)

b.4K2

c.(2L)/K

d.K/(2L)

 

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Ans d.K/(2L)

Step-by-step explanation

Formula of MRTS: MRTS = MPL/MPK

 

q = 4K2L

MPL = dq/dL = 4K2

MPK = dq/dK = 8KL

 

MRTS = 4K2/8KL

MRTS = K/2L

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