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K 3L Suppose that a production function is given by F(L, K) = L * K * in which case the marginal products will be
K 3L Suppose that a production function is given by F(L, K) = L * K * in which case the marginal products will be given by MPL = and MPK = respectively. Aw AL 4K 4 What is the marginal rate of technical substitution at (L, K) = (3, 18) , and what is the interpretation? O which means that in order to maintain the same level of output, then if you increase k by one unit, you must decrease _ by two units. O -2, which means that in order to maintain the same level of output, then if you decrease _ 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 _ by two units. N O 2, which means that in order to maintain the same level of output, then if you decrease [ by one unit, you must increase K by two units
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