Meyer Inc produces lampposts using labor (L) and capital (K). Its production function is given by the following expression:
Q = 80 L + 47 K
where Q is the output of lampposts.
The prices of labor (PL), capital (PK), lamppost (P) and the cost (C) are the following:
PL=56, PK=12, P=91, and C=4125
What is the MRTS?