Given that a firm’s production process is defined by the function: 6.04.06.0KLQ . Where Q is the level of output and L and K are factors inputs, that is, labour and capital respectively. If 20 units of output are produced with 4 units of labour and 6 units of capital. (i) Calculate the marginal product of labour and capital respectively. (3marks) (ii) Find the marginal rate of technical substitution between the two factors. (2marks) (iii) Determine the output elasticities of labour and capital respectively (3marks)

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Given that a firm’s production process is defined by the function: 6.04.06.0KLQ

. Where Q is the level of
output and L and K are factors inputs, that is, labour and capital respectively. If 20 units of output are produced
with 4 units of labour and 6 units of capital.
(i) Calculate the marginal product of labour and capital respectively.
(3marks)
(ii) Find the marginal rate of technical substitution between the two factors.
(2marks)
(iii) Determine the output elasticities of labour and capital respectively
(3marks)

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