For the Production Function Q(K,L) = 3K + 2L, the Marginal

question 101

Multiple Choice

For the production function Q(K,L) = 3K + 2L, the marginal rate of technical substitution MRTS_LK is:

• A) 2/3.
• B) 3/2.
• C) 2L/3K.
• D) 3K/2L.

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Behavioral Economics

A field of study merging insights from psychology and economics to explore how people make decisions and how these decisions can deviate from those predicted by standard economic theories.

Behavioral Economics

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