Find the Value of the Marginal Rate of Technical Substitution $Q = 300 K ^ { \frac { 2 } { 3 } } L ^ { \frac { 1 } { 2 } }$

question 1

Multiple Choice

Find the value of the marginal rate of technical substitution for the production function $Q = 300 K ^ { \frac { 2 } { 3 } } L ^ { \frac { 1 } { 2 } }$ when $K = 40 , L = 60$ .

• A) \(\frac { 1 } { 2 }\)
• B) \(\frac { 3 } { 2 }\)
• C) \(\frac { 3 } { 4 }\)
• D) \(\frac { 2 } { 3 }\)
• E) 2

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