Sppose that your coee shop has the production functionq , Ask an Expert

Economics

Suppose that your co?ee shop has the production function

Q = b^(1/2)m^(1/3)

where b is the amount of co?ee beans used and m is the amount of milk used.5. What is the co?ee shop’s marginal product of beans?

1. What is the co?ee shop’s marginal product of milk?

2. What is the co?ee shop’s marginal rate of technical substitution? If the co?ee shop is currentlyusing one unit of beans and one unit of milk, explain what the marginal rate of technicalsubstitution means.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91996816

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