3 1 l 3 I I K 4 3L 4 Suppose that a production function is given by 1-'(L ,K) 2L K in which case the marginal products will be given by MPL = and MPK= 4L 4 4K 4 , respectively. What is the marginal rate of technical substitution at (L ,K) =(3,18) . and what is the interpretation? '3 1 E: which means that in order to maintain the same level of output: then if you increase K by one unit, you must decrease L by two units. 2. which means that in order to maintain the same level ofoutput, then if you decrease L by one unit. you must increase K by two units O :which means that in order to maintain the same level of output: then if you increase K by one unit, you must decrease L by two units. [\\Jlll O 2, which means that in order to maintain the same level of output: then it you decrease L by one unit, you must increase K by two units