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Question 3 To produce a desk, you need exactly one table top (I) and four legs (L). When you have only four legs, you cannot
Question 3 To produce a desk, you need exactly one table top (I) and four legs (L). When you have only four legs, you cannot produce two desks even though you have two table tops. Similarly, when you have only one table top, you cannot produce more than one desk even if you have more than four legs. a) Draw several isoquants of the desk production function. h) Write a mathematical expression for this production function. What can you say about the returns to scale of this function? (For simplicity, assume that T, L, and Q do not need to be integers.)
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