4. To produce 16 units of output a firm can use either four workers (L) or two machines (K). a. Write down the production function q = f(L, K) that represents this production technology. b. What is the firm’s MRTS? c. Graph the isoquant associated with q = 32.

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4. To produce 16 units of output a firm can use either four workers (L) or two machines (K).

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a. Write down the production function q = f(L, K) that represents this production technology.

b. What is the firm’s MRTS?

c. Graph the isoquant associated with q = 32.

 

 

4. To produce 16 units of output a firm can use either four workers (L) or two machines (K).  

a. Write down the production function q = f(L, K) that represents this production technology.

b. What is the firm’s MRTS?

c. Graph the isoquant associated with q = 32.  

 

 

4. To produce 16 units of output a firm can use either four workers (L) or two machines (K).  

a. Write down the production function q = f(L, K) that represents this production technology.

b. What is the firm’s MRTS?

c. Graph the isoquant associated with q = 32.  

 

4. To produce 16 units of output a firm can use either four workers (L) or two machines (K).  

a. Write down the production function q = f(L, K) that represents this production technology.

b. What is the firm’s MRTS?

c. Graph the isoquant associated with q = 32.  

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