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Let F be a function of twovariables, defined by F ( K , L )=7 ln K +8 ln L Let F be a function

Let F be a function of twovariables, defined by F(K,L)=7lnK+8lnL

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Let F be a function of two variables, defined by F(K, L) = 7 Ink + 8 In L. (a) Find RLK = F1'(K, L) / F2'(K, L), the marginal rate of substitution of L for K. (b) Find LK = ER, (L/ K), the elasticity of substitution between L and K along a level curve for F. RLK (Simplify your answer.)

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