6.9. Suppose the production function for automobiles is where Q is the quantity of automobiles produced per
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6.9. Suppose the production function for automobiles is where Q is the quantity of automobiles produced per year, L is the quantity of labor (man-hours), and K is the quantity of capital (machine-hours).
a) Sketch the isoquant corresponding to a quantity of Q ! 100.
b) What is the general equation for the isoquant corresponding to any level of output Q?
c) Does the isoquant exhibit diminishing marginal rate of technical substitution?
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