Suppose the production function for cupcakes is: y = x₁ x₂

On a graph with x₁ along the horizontal axis and x₂ along the vertical axis, plot some input combinations that give an output of 12 cupcakes. Then, sketch an isoquant that runs through these points.

In the short run, the firm cannot vary the amount of input 2 it uses. It is stuck at exactly x₂=2. On a graph, draw the firms output as a function of x₁ when it has exactly 2 units of good 2.

The slope of the line/curve is known as what?