Question: (3 points) (a) Suppose we have a production function Q(L,K) = min [L, 4K]. Draw the isoquant for Q = 100. Explain what is happening.

(3 points) (a) Suppose we have a production function Q(L,K) = min [L, 4K]. Draw the isoquant for Q = 100. Explain what is happening. (2 points) (b) Does this production function have constant, increasing, or diminishing returns to scale (RTS)? Explain/show.

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