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Problem 5. For each of the following production functions graph the isoquants for production levels y {10, 30, 60}. 1. f(K,L)=3K+ L 2. g(K,L) =min{K,3L}

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Problem 5. For each of the following production functions graph the isoquants for production levels y {10, 30, 60}. 1. f(K,L)=3K+ L 2. g(K,L) =min{K,3L} 3. h(K,L) = 5K/ Problem 6. Evaluate the returns to scale for each of the following production functions. 1. f(K,L)=3K+ L 2. g(K,L) =min{K,3L} 3. h(K,L) =5K"Y4[**

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