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PS2 - Department of Economics University of California...

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. . . more Department of Economics Fall 2007 University of California Economics 100B Berkeley Professor Olney Problem Set #2 (15 points possible; 3 percent of course grade) Due: To Your GSI In Section, Wednesday September 19 or Thursday September 20 Your answers should be written on the answer sheet provided. Staple your work (on 8½x11 paper) to the back of your answer sheet. You must attach your work or you will receive no points. Be sure to write your section day/time and GSI’s name at the top of the answer sheet. Write your name at the top of every attached page. Late problem sets will be penalized 5 points per day. Your submitted work must be your own: Problem sets that are identical (in whole or in part) to another student's problem set will receive a score of zero (0). Problem sets should NOT be left in GSI mailboxes. Papers can be stolen from those mailboxes. We are not responsible for problem sets that are not handed directly to your GSI. 1. (3 points total; ½ point each) (You can do this by hand, or you can use Excel and print out the graph) A. Graph the production function for values of K/L from 0 to 10,000 (increasing 1,000 at a Y L K L E = 1 3 2 3 time), assuming E = 1,000. Label it ( ) Y L A B. Graph the same production function, on the same axes, for the same range of K/L, assuming E = 2,000. Label it ( ) Y L B C. On a new set of axes, re-graph the production function from part (A), for values of K/L Y L K L E = 1 3 2 3 from 0 to 10,000 (increasing 1,000 at a time), assuming E = 1,000. Label it ( ) Y L C D. On the same axes as you used for part (C), graph the production function for values of K/L Y L K L E =

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