Question

Let q = L½k½ denote the production function for a firm making long-run decisions

Let q = L½k½ denote the production function for a firm making long-run decisions, that is K (capital) and L (labor) are now variable. 

a. Place k on the Y-axis and L on the X-axis and illustrate an isoquant when q=100.

b. Derive an expression for the MRTS (the marginal rate of technical substitution) for any level of q.

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