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Y5 How to graph Cobb Douglas and Quasi-linear isoquant functions? a) Cobb Douglas: Q = K x L What is the equation for isoquant for
Y5
How to graph Cobb Douglas and Quasi-linear isoquant functions?
a) Cobb Douglas:
Q = K x L
What is the equation for isoquant for any value of Q? How do I graph an isoquant for these four values of Q: 1,2,3,4,6 and graph in the area where L ranges from 0 to 5 and K ranges from 0 to 5?
b) Quasi-linear
Q = K + ln(L)
What is the equation for isoquant for any value of Q? How do I graph an isoquant for these four values of Q: 1,2,3,4 and graph in the area where L ranges from 0 to 2 and K ranges from 0 to 10?
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