Question $1(25$ points$)$

$-$ Draw a properly labeled graph featuring an isoquant curve, then label three points on the isoquant: A$,$ B$,$ and C$.$

$-$ Now, define the terms $(1)$ Marginal Product of Labor and $(2)$ Marginal Product of Capital.

$-$ Returning to your graph, where is the marginal product of labor high relative to the marginal product of capital? How do you know and what does this mean?

$-$ What does the slope of any point on the isoquant curve represent and what do we call the slope of the isoquant at any given point?