The question is: f(x,y) is a production function and f(x,y) = 60x^1/2y^2/3
I have to find the pairs where marginal productivity of capital and labor are equal. I know these are the partial derivatives, so I am setting them equal to each other.
For the partials, I got:
30(y^2/3)/(x^1/2) and 40(x^1/2)/(y^1/3)
If I set them equal I can get y= 4/3 x but is this the answer??
Thanks