Using the information given in the table, draw the isoquant corresponding to an output level of 135. Starting from L=6 and K= 2, how much extra capital is needed to keep output constant if the labor is reduced from L = 6 to L= 3? How much extra capital is 8- needed to keep output constant if labor is increased from L=3 to L= 4? 7- 6- 3 85 K 2 70 95 110 120 130 135 5- 50 70 85 100 110 120 100 120 135 150 160 165 120 110 130 110 125 135 145 150 135 145 150 160 165 170 175 175 180 4 3- 2- Using the four-point curved line drawing tool, graph the firm's isoquant for an output level of 135. Label this 'q = 135. 1- 0- Carefully follow the instructions above, and only draw the required object. L, Labor of -00 K, Capital
Using the information given in the table, draw the isoquant corresponding to an output level of 135. Starting from L=6 and K= 2, how much extra capital is needed to keep output constant if the labor is reduced from L = 6 to L= 3? How much extra capital is 8- needed to keep output constant if labor is increased from L=3 to L= 4? 7- 6- 3 85 K 2 70 95 110 120 130 135 5- 50 70 85 100 110 120 100 120 135 150 160 165 120 110 130 110 125 135 145 150 135 145 150 160 165 170 175 175 180 4 3- 2- Using the four-point curved line drawing tool, graph the firm's isoquant for an output level of 135. Label this 'q = 135. 1- 0- Carefully follow the instructions above, and only draw the required object. L, Labor of -00 K, Capital
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Using the information given in the table, draw the isoquant corresponding to an output
level of 135. Starting from L=6 and K= 2, how much extra capital is needed to keep
output constant if the labor is reduced from L = 6 to L= 3? How much extra capital is
8-
needed to keep output constant if labor is increased from L=3 to L= 4?
7-
6-
3
85
K
2
70
95
110
120
130
135
5-
50
70
85
100
110
120
100
120
135
150
160
165
120
110
130
110
125
135
145
150
135
145
150
160
165
170
175
175 180
4
3-
2-
Using the four-point curved line drawing tool, graph the firm's isoquant for an output
level of 135. Label this 'q = 135.
1-
0-
Carefully follow the instructions above, and only draw the required object.
L, Labor
of
-00
K, Capital
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