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Business · Economics
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2. Frisbees are produced according to the production function: Where Output of Frisbees per hour K capital input per hour L labor input per hour a) IfK 10, how much L is needed to produce 100 Frisbees per hour? b) If 25, how much L is needed to produce 100 Frisbees per hour? c) Graph the q 100 isoquant. Indicate the points on that isoquant defined in part (a) and (b) What is the RTS along this isoquant? Explain why the RTS is the same at every point on the isoquant.
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