Question: Problem 1 (25 Points) Manufacturers.inc has the following production function that represents the available tech- nology to mix capital (K) and labor (L) (their

Problem 1 (25 Points) Manufacturers.inc has the following production function that represents

Problem 1 (25 Points) Manufacturers.inc has the following production function that represents the available tech- nology to mix capital (K) and labor (L) (their only two inputs): q(L,K) = L/K/ in the short run, the firm has a fixed level of capital K = 8 1) Fill the following table. L q MPL APL 0 1 2 3 4 5 6 7 8 9 10 2) Graph total production, MP, and APL according to the values in the table form the previous question 3) Graph the isoquants in the long run from the levels of production q = 1,2,3

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