Question

The production function is
Q= 20 K0.5 L0.5
For the production function Q= 20 K0.5 L0.5 determine four combinations of capital and labor that will produce 100 and 200 units of output.
Plot these points on a graph and use them to sketch the 100- and 200-unit isoquants.

Answer 1

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Answer on Question 81930-Economics - Microeconomics

The production function is

$$Q = 20 \, \text{K} \, 0.5 \, \text{L} \, 0.5$$

For the production function $Q = 20 \, \text{K} \, 0.5 \, \text{L} \, 0.5$ determine four combinations of capital and labor that will produce 100 and 200 units of output.

Plot these points on a graph and use them to sketch the 100- and 200-unit isoquants.

Solution.

For $20 \, \text{K}^{0.5} \, \text{L}^{0.5} = 100$

For $20 \, \text{K}^{0.5} \, \text{L}^{0.5} = 200$

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