You are given the following table for a production process which has two variable outputs.
a. Sketch the isoquants corresponding to the following output levels: 60, 70, 85, 95, 105, and 115. What returns to scale does the production function exhibit? What can be said of the MRTS?
b. Analyze the marginal productivity of labor and capital for the production function.

Question

You are given the following table for a production process which has two variable outputs.  
a. Sketch the isoquants corresponding to the following output levels: 60, 70, 85, 95, 105, and 115. What returns to scale does the production function exhibit? What can be said of the MRTS?
b. Analyze the marginal productivity of labor and capital for the production function.

Quizplus · Accepted Answer

The Answer of You are given the following table for a production process which has two variable outputs.  
a. Sketch the isoquants corresponding to the following output levels: 60, 70, 85, 95, 105, and 115. What returns to scale does the production function exhibit? What can be said of the MRTS?
b. Analyze the marginal productivity of labor and capital for the production function.

You Are Given the Following Table for a Production Process