At Lequals86, Kequals90, the marginal product of labor is 8 and the marginal product of capital is 2. What is the marginal rate of technical substitution (labor measured on the horizontal axis)? The marginal rate of technical substitution is nothing. (Enter a numeric response using a real number rounded up to two decimal places.)

0.25

Explanation:

The marginal rate of technical substitution (MRTS) can be described as the rate of a reduction is one factor to maintain the same production level when another factor is increased.

Given that labor is measured on the horizontal axis, the MRST of K for L can be calculated as follows:

Where;

MPK =  Marginal product of capital = 2

MPL = Marginal product of labor = 8

Substituting the values into the equation, we have:

This implies that 0.25 of capital must be given up to have one unit of labor.

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two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.