For the following production functions, • find the marginal product of each input. • determine whether the production function exhibits diminishing marginal returns to each input. • find the marginal rate of technical substitution and discuss how mrts lk changes as the firm uses more l, holding output constant. a. q(k, l) = 3k + 2l b. q(k, l) = lok0 · 5 l0 · 5

Delux technology has a reputation of reliability and a winning customer service, qualities that to build this highly respected name brand over the last 15 years. speaking at a recent business conference, steve, the ceo of delux, told his audience, "we have built our reputation by changing little over the last several years, but consistently customers with great, caring service and a reliable product." which type of strategy does delux technology use? a.) growth strategy b.) defensive strategy c.) retrenchment strategy d.) merger approach e.) stability strategy