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prove that dMRTS/dL<0 when FKL > 0 where MRTS =MPL/MPK MPL= marginal product of labor MPK - marginal product of capital

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 13RQ: What is the difference between a fixed input and a variable input?

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Question

prove that dMRTS/dL<0 when FKL > 0

where MRTS =MPL/MPK

MPL= marginal product of labor

MPK - marginal product of capital

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