The production function for hogwarts remover an anti-magic, Ask an Expert

Economics

The production function for Hogwarts Remover, an anti-magic potion, has the form Q = K 0.5L 0.5 , where Q is in bottles per period and K and L are in machine-days and labour-days per period, respectively. a. Graph the unit isoquant (Q = 1) and the isoquant for Q = 2. b. Calculate the formulas for MPL, MPK, and MRTS. c. When Q = 4 and L = 9, give the long-run efficient value for K and the MRTS at this point.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91570627

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