The following production grid shows the relationship between Capital and Labor inputs and the output that can be produced by a firm. 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.

The following production grid shows the relationship between Capital and Labor inputs and the output that can be produced by a firm. 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.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter1: What Is Economics

Section1.A: Using Graphs: A Review

Problem 3TY

See similar textbooks

	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