(Answered) 1 suppose the production function for t-shirts can be

Management Studies

1) Suppose the production function for T-shirts can be represented as q = L0.25 K0.75. When K = 1 and q =2, what is the slope of the isoquant? If there is insufficient information to answer the question, describe what information is needed.

2) Show that increasing returns to scale can co-exist with diminishing marginal productivity.

3) Provide a graph and an explanation to show that the production function Q = L.5K.5 has diminishing marginal product of labor but has constant returns to scale.

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Business Management, Management Studies

Category:- Business Management
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