What is the value of the marginal rate

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The product function for the BIDDLE Company is given by, Q=L^0.3K^0.3E^0.1M^0.18 Where Q=output, L=labor, K=operating capital, E=energy input, and M=materials. Derive the marginal rate of technical substitution of operating capital K for labor, L (remember the isoquant analysis). If operating capital is running $60,000,000 and employment is running 4,000 employees in the company, what is the value of the marginal rate of technical substitution between operating capital and labor in the Biddle Company?

Reference no: EM13148415

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