Frisbees are produced according to the production function

q = 2K + L

Where

q = Output of Frisbees per hour

K = Capital input per hour

L = Labor input per hour

a. If K = 10, how much L is needed to produce 100 Frisbees per hour?

b. If K = 25, how much L is needed to produce 100 Frisbees per hour?

c. Graph the q = 100 is oquant. Indicate the points on that is oquant defined in part a and part b. What is the RTS along this is oquant? Explain why the RTS is the same at every point on the is oquant.

d. Graph the q = 50 and q = 200 is oquants for this production function also. Describe the shape of the entire is oquant map.

e. Suppose technical progress resulted in the production function for Frisbees becoming

q = 3K + 1:5L

Answer part a through part d for this new production function and discuss how it compares to the previous case.