The production at a copy shop is q LK =1000 min( ,3 ) , where q is the number of copies per hour, L is the number of workers, and K is the number of…
The production at a copy shop is q LK =1000 min( ,3 ) × , where q is the number of copies per hour, L is the number of workers, and K is the number of copy machines. As an example, if L = 2 and K =1, then min( ,3 ) 2 L K = , and q = 2000. a. Draw the isoquants for this production function. b. Draw the total product, average product, and marginal product of labour curves for this production function for some fixed level of capital.