Capital Labor 0 1 2 3 4 5 6 7 8 9 0 0 0 0 0 0 0 0 0 0 0 1 0 2 6 14 24 36 42 46 48 48 2 0 6 24 60 120 170 210 240 260 270 3 0 14 60 170 210 240 300 360 420 460 4 0 24 120 210 260 420 560 680 760 820 5 0 36 170 240 420 820 1000 1140 1240 1320 6 0 42 210 300 560 1000 1400 1700 1900 2000 7 0 46 240 360 680 1140 1700 2200 2600 2800 8 0 48 260 420 760 1240 1900 2600 3000 3200 9 0 48 270 460 820 1320 2000 2800 3200 3400 (a) Based on this information use Excel Charts to set up an isoquant map with isoquants representing output levels of 24, 210, 420, and 820 units of output.  (b) Explain the nature and the meaning of the isoquant curves that you have drawn.  Make sure that you discuss the meaning of the slopes of the isoquant lines. Specifically, you need to explain how and why the slopes of the isoquants are related to the marginal productivities of the two inputs, labor and capital.

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