Safari File Edit View History Bookmarks Window Help 74% Tue 11:03 PM albany.edu Forum: Chapter 8: Hispanic Americans: Colonization, ... https://blackboard.albany.edu/bbcswebdav/pid-4093923-d.. My Questions | bartleby https://www.albany.edu/~by872279/micro/HW3.pdf 2. Draw isoquant maps for the following technologies. i) ƒ(L, K) = LK ii) g(L, K) = L + 2K iii) h(L, K) = min(2L, K) 3. Frisbees are produced according to the production function q where q =output of frisbees per hour, K =capital input per hour, L =labor input per hour. a) If K b) If K = 25, how much L is needed to produce 100 frisbees c) Graph the q defined in part a and part b. What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant. d) Graph the q = 50 and q = 200 isoquants for this production function also. Describe the shape of the entire isoquant map. e) Suppose technical progress resulted in the production function for frisbees becoming q = 3K + 1.5L. Answer part a through part d for this new production function and discuss how it compares to the previous case. 2K+L 10, how much L is needed to produce 100 frisbees per hour? per hour? 100 isoquant. Indicate the points on that isoquant 4. Consider the production function f(L, K) = L+K. a. Suppose K is fixed at 2. Find algebraic expressions for the total product of labor function TP(L), the average product of labor AP(L), and 187 25 PAGES 95 MAR 10

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Frisbees are produced according to the production function q = 2K+Lwhere q =output of frisbees per hour, K =capital input per hour, L =labor input per hour.

a) If K = 10, how much L is needed to produce 100 frisbees per hour? b) If K = 25, how much L is needed to produce 100 frisbees per hour?

c) Graph the q = 100 isoquant. Indicate the points on that isoquantd defined in part a and part b. What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant.

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Tue 11:03 PM
albany.edu
Forum: Chapter 8: Hispanic Americans: Colonization, ...
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My Questions | bartleby
https://www.albany.edu/~by872279/micro/HW3.pdf
2. Draw isoquant maps for the following technologies.
i) ƒ(L, K) = LK
ii) g(L, K) = L + 2K
iii) h(L, K) = min(2L, K)
3. Frisbees are produced according to the production function q
where q =output of frisbees per hour, K =capital input per hour, L =labor
input per hour.
a) If K
b) If K = 25, how much L is needed to produce 100 frisbees
c) Graph the q
defined in part a and part b. What is the RTS along this isoquant? Explain
why the RTS is the same at every point on the isoquant.
d) Graph the q = 50 and q = 200 isoquants for this production function
also. Describe the shape of the entire isoquant map.
e) Suppose technical progress resulted in the production function for
frisbees becoming q = 3K + 1.5L. Answer part a through part d for this
new production function and discuss how it compares to the previous case.
2K+L
10, how much L is needed to produce 100 frisbees per hour?
per
hour?
100 isoquant. Indicate the points on that isoquant
4. Consider the production function f(L, K) = L+K.
a. Suppose K is fixed at 2. Find algebraic expressions for the total
product of labor function TP(L), the average product of labor AP(L), and
187
25
PAGES
95
MAR
10
Transcribed Image Text:Safari File Edit View History Bookmarks Window Help 74% Tue 11:03 PM albany.edu Forum: Chapter 8: Hispanic Americans: Colonization, ... https://blackboard.albany.edu/bbcswebdav/pid-4093923-d.. My Questions | bartleby https://www.albany.edu/~by872279/micro/HW3.pdf 2. Draw isoquant maps for the following technologies. i) ƒ(L, K) = LK ii) g(L, K) = L + 2K iii) h(L, K) = min(2L, K) 3. Frisbees are produced according to the production function q where q =output of frisbees per hour, K =capital input per hour, L =labor input per hour. a) If K b) If K = 25, how much L is needed to produce 100 frisbees c) Graph the q defined in part a and part b. What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant. d) Graph the q = 50 and q = 200 isoquants for this production function also. Describe the shape of the entire isoquant map. e) Suppose technical progress resulted in the production function for frisbees becoming q = 3K + 1.5L. Answer part a through part d for this new production function and discuss how it compares to the previous case. 2K+L 10, how much L is needed to produce 100 frisbees per hour? per hour? 100 isoquant. Indicate the points on that isoquant 4. Consider the production function f(L, K) = L+K. a. Suppose K is fixed at 2. Find algebraic expressions for the total product of labor function TP(L), the average product of labor AP(L), and 187 25 PAGES 95 MAR 10
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