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Consider the production functionq= 6L^(2)K^(3) The marginal products areMPL= 12LK^(3)andMPK= 18L^(2 )K^(2) 1.Graph the isoquant. Identify and label three points on the isoquant. 2.Calculate the

Consider the production functionq= 6L^(2)K^(3) The marginal products areMPL= 12LK^(3)andMPK= 18L^(2 )K^(2)

1.Graph the isoquant. Identify and label three points on the isoquant.

2.Calculate the formula for the MRTS.

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