The production function at Ginko’s Copy Shop is q = 1,000 × min( L, 3K), 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 = 4 and K = 1, then the minimum of L and 3K, min( L, 3K) = 3, and q = 3,000.
a. Draw the isoquants for this production function.
b. Draw the total product, average product, and marginal product of labor curves for this production function for some fixed level of capital.

  • CreatedNovember 13, 2014
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