Given the production function Q = K^0.6 L^0.3

Question

Find

i) the marginal productivity of labour

ii) the marginal productivity of capital

iii) the marginal rate of technical substitution

please help,and thanks

Answer 1

i)

MPL=δQ/δL

MPL=0.3K^0.6 / L^0.7

ii)

MPK=δQ/δK

MPK=0.6L^0.3 / K^0.4

iii)

MRTS(L;K)= - MPL/MPK = -K/2L