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Economics

Suppose a firm's production function is: q=(K 1/2+L 1/2) 2 and that wage rate is w= $8 and the rental rate is r=$4.

a) Find the firm's marginal rate of technical substitution.

b) Use the production function to define the isoquant for 9 units of output.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91229865

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