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Unformatted text preview: Brazil can produce one liter of watermelon juice. a) What is the production function for watermelon juice? b) Plotting watermelons from Brazil on the x-axis, draw the isoquant for 10 liters of watermelon juice. Draw the isoquant for 18 liters of watermelon juice. 3) For each of the following, show whether the production function satisfies (1) Diminishing Marginal Product in labor, (2) Diminishing Marginal Rate of Technical Substitution (MRTS), and (3) Constant Returns to Scale. a) q = 3 K + 5 L b) q = min(3 K , 4 L ) c) q=L 0.5 K 0.5 d) q=L 2 K 2 4) Ch. 6 #3 from textbook. 5) Ch. 6 #21 from textbook. Assume marginal analysis problems (A) are the x-axis input....
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This note was uploaded on 09/18/2008 for the course ECON 100B taught by Professor Rauch during the Winter '07 term at UCSD.
- Winter '07