(1) q=35L + 40K (2) q=L.5K.5 a) For the production functions of (1) and (2) create the isoquants for q = 100, and for q = 144 with K on the vertical axis and L on the horizontal axis. (Use excel's scatter plot to draw these pictures. So, two pictures with two isoquants each.) b) Suppose that K is fixed at K = 9. Using excel draw the total product curves for equation (1). In a separate excel chart draw the marginal product and average product for K = 9 in equation (1). Give an explanation for the shapes of the total product, marginal product, and average product curve.

(1) q=35L + 40K (2) q=L.5K.5 a) For the production functions of (1) and (2) create the isoquants for q = 100, and for q = 144 with K on the vertical axis and L on the horizontal axis. (Use excel's scatter plot to draw these pictures. So, two pictures with two isoquants each.) b) Suppose that K is fixed at K = 9. Using excel draw the total product curves for equation (1). In a separate excel chart draw the marginal product and average product for K = 9 in equation (1). Give an explanation for the shapes of the total product, marginal product, and average product curve.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.6P

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Please give me correct answer with full explanation and calculation otherwise i give multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.
q = 35L + 40 K (1) (2) 0.5, For the production functions of (1) and (2) create the isoquants for q = 100, and for q = 144 with K on the vertical axis and L on the horizontal axis. (Use excel's scatter plot to draw these pictures. So, two pictures with two isoquants each.) Suppose that K is fixed at K = 9. Using excel draw the total product curves for equation (1). In a separate excel chart draw the marginal product and average product for K = 9 in equation (1). Give an explanation for the shapes of the total product, marginal product, and average product curve.
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