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Given the equation for the production isoquant 25 K^3 / 5 L^2 / 5=5400 find the MRTS, using the implicit function rule. Set up the implicit function, F(K, L)=25 K^35 L^2 / 5-5400=0 and use (5.13). (d K)/(d L)=(-FL)/(FK)=(-10 K^235 L^-35)/(15 K^-25 L^25)=(-2 K)/(3 L)= MRTS Compare this answer with that in Problem 4.25. | Numerade

Given the equation for the production isoquant 25 K^3 / 5 L^2 / 5=5400 find the MRTS, using the implicit function rule. Set up the implicit function, F(K, L)=25 K^35 L^2 / 5-5400=0 and

numerade.com1 个月前

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