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Course: Microeconomics - Long-run Production Function Consider the production function F(K,L) = K 1/2 L 1/2 . Find the isoquant curve representing if Q =
Course: Microeconomics - Long-run Production Function Consider the production function F(K,L) = K1/2 L1/2. Find the isoquant curve representing if Q = 1, Q = 5 and Q = 10. And if the function were represented by K3/4 L1/4, what will be the isoquant curve for each value of Q?
Please graph and explain your results. I need to know how to determine the value of K (algebraically) for each value of Q in each of the functions described. Thanks :D
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