What is the MRTS for the following production function: q = In(KL) + K'S e, q-In(KL)+K^(3/2). You could see that this MRTS is different for different values of Kand L Can you give an example of a proper production function (strictly increasing in both K and L), for which the MRTS is always equal to -2021 regardless of the values of K and L

What is the MRTS for the following production function: q = In(KL) + K'S e, q-In(KL)+K^(3/2). You could see that this MRTS is different for different values of Kand L Can you give an example of a proper production function (strictly increasing in both K and L), for which the MRTS is always equal to -2021 regardless of the values of K and L

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.7P

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