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The Calculus of Production Functions and Input Demand - End of Appendix Problem Consider each of the following production functions, and assume that Q =

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The Calculus of Production Functions and Input Demand - End of Appendix Problem Consider each of the following production functions, and assume that Q = 100. a. Q(K. L) = 2K + 3L The isoquant can be written The MRTSix is -The MRTS therefore as the firm uses more labor, and the OK = 50 -3L OK = 50 - 1.5L isoquant is OK = 100 - 0.5L OK = 100 - 1.5L b. O(K, L) = KOS _ 0.25 The isoquant can be written The MRTSix is . The MRTS therefore as the firm uses more labor, and the OK = 10,0004-95 OK = 10,000ZOS isoquant is OK = 100/-0.25 OK = 10.0004 1:25c. Q(K. L) = LK + L The isoquant can be written The MRTSix is The MRTS therefore as the firm uses more labor. O K = 501-1 -1 OK = 501-1 +1 and the isoquant is OK = 100L - 1 O K = 1001- - 1

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