ECO200Y5 Study Guide - Final Guide: Skilled Worker, Marginal Product, Isoquant
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Tutorial 5 - wednesday - june 4, 2014 - 4pm - 5pm. Frisbees are produced according to the production functions q = 2k + l where q. Indicate the points on that isoquant defined in part (a) and part (b). Rts is the same at every point on the isoquant. (d) graph the q = 50 and q = 200 isoquants for this production function also. Describe the shape of the entire isoquant map. (e) suppose technical progress resulted in the production function for. Answer part (a) through part (d) for this new production function and discuss how it compares to q = 2k + l. Digging clams by hand in sunset bay requires only labour input. Graph this relationship and show that output per unit of labour input diminishes for increases in labour input. (c) the marginal productivity of labour in sunset bay is given by mpl =
