Suppose that a firm's production function is 
. Use calculus to find the marginal rate of technical substitution and discuss how MRTSLK changes as the firm uses more labor, holding output constant.
Definitions:
Supplier
A party that provides goods or services to another entity, typically part of a supply chain.
Revenue
The entire financial income obtained from transactions involving the sale of products or the provision of services central to an organization's main operations.
Income Elasticity
A measure of how the demand for a good or service changes with a change in consumers' income.
Mobile Service
Telecommunication services provided through a network of base stations, enabling users to maintain communication without a fixed connection point.
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