Company Z has the following data corresponding to the production function. Where (L) is theamount of the labor factor and (K) capital. Q=K0.4 L 0.6 a) Calculate the amount of production,applying the production function for each of the respective values of K and L.KLQ1080301605032070640901200a) Graph the amount of production obtained on the Y axis, and with the labor input on theХ аxisb) Draw isoquant lines for each level of production, placing capital on the Y axis and laboron the X axis, to better appreciate the displacement.

Company Z has the following data corresponding to the production function. Where (L) is the amount of the labor factor and (K) capital. Q=K0.4 L0.6 a) Calculate the amount of production, applying the production function for each of the respective values of K and L. K Q 10 80 30 160 50 320 70 640 90 1200 a) Graph the amount of production obtained on the Y axis, and with the labor input on the Х аxis b) Draw isoquant lines for each level of production, placing capital on the Y axis and labor on the X axis, to better appreciate the displacement.

Company Z has the following data corresponding to the production function. Where (L) is the amount of the labor factor and (K) capital. Q=K0.4 L0.6 a) Calculate the amount of production, applying the production function for each of the respective values of K and L. K Q 10 80 30 160 50 320 70 640 90 1200 a) Graph the amount of production obtained on the Y axis, and with the labor input on the Х аxis b) Draw isoquant lines for each level of production, placing capital on the Y axis and labor on the X axis, to better appreciate the displacement.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

100%

Company Z has the following data corresponding to the production function. Where (L) is the
amount of the labor factor and (K) capital. Q=K0.4 L 0.6 a) Calculate the amount of production,
applying the production function for each of the respective values of K and L.
K
L
Q
10
80
30
160
50
320
70
640
90
1200
a) Graph the amount of production obtained on the Y axis, and with the labor input on the
Х аxis
b) Draw isoquant lines for each level of production, placing capital on the Y axis and labor
on the X axis, to better appreciate the displacement.

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