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    Microeconomics Study Set 32
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    Exam 6: Producer Behavior
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    Consider the Production Function Q = (0
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Consider the Production Function Q = (0

Question 95

Question 95

Essay

Consider the production function Q = (0.5K1/3 + 0.5L1/3)3 with a corresponding MRTS = K2/3/L2/3. Consider the production function Q = (0.5K<sup>1/3</sup> + 0.5L<sup>1/3</sup>)<sup>3</sup> with a corresponding MRTS = K<sup>2/3</sup>/L<sup>2/3</sup>.

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a. With this production function, a doub...

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