Unformatted text preview: (c) Derive the marginal products for capital and labor, and show their relationship with the average product for this particular production function. Add the MP L curve to the graph in part (b)—note any unusual properties. (d) Consider the isoquant for Q = 10. What is the MRTS for the following points. K = 25, L = 4, K= L = 10, and K = 4, L = 25. Does the function show a diminishing MRTS ?...
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- Winter '08
- Economics, Graph of a function, Department of Agricultural and Resource Economics University of California, 100A Richard Howitt