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Finn F Q=KL For each rm a. Determine the firm's marginal product of capital function (2 marks) b. Determine the firm's marginal product of labour
Finn F Q=KL For each rm a. Determine the firm's marginal product of capital function (2 marks) b. Determine the firm's marginal product of labour function (2 marks) c. Determine if the marginal product of capital lnction exhibits diminishing marginal returns (3 marks) d. Determine if the marginal product of labour function exhibits diminishing marginal returns (3 marks) e. Determine if the function exhibit increasing, constant or decreasing returns to scale. (3 marks) f. Determine the function for the marginal rate of technical substitution (3 marks) g. Determine if the production function has a diminishing marginal rate aftechnicai substitution. (4 marks) h. DeriVe the conditional input demand functions for labour and capital by Minimizing cost subject to output (5 marks) i. Derive the conditional input demand functions for labour and capital by Maximizing output subject to cost constraint
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