2. The production is given by Y= 2L+K. The firm currently produces 200 units a. Graph an isoquant representing 100 units of output b. MPL=. ...MPK=........... and the TRS=. C. If capital was fixed at 10, how can the firm meet the target production of 200 units? d. Test for return to scale

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Factors of Production

Factors of production – in simple words means the factors that are used for producing any product or service. This includes the resources which are necessary for the manufacturing of products. Factors of production are also known as the building blocks of the economy.