Question: with detailed solution reference on comment section typewritten plss Table 1. Production functions of a firm given various combinations of kapital and labor inputs isoguant

with detailed solution reference on comment section typewritten plss

with detailed solution reference on comment section typewritten plss Table 1. Production

Table 1. Production functions of a firm given various combinations of kapital and labor inputs isoguant 1 isoquant 2 isoquant 3 Kapital Labor kapital 2 labor2 kapital abor 11 2 13 4 15 6 8 1 10 3 12 5 5 2 7 9 6 3 3 5 5 7 7 2.3 4.2 6.2 8 1.8 5 3.5 5.5 1.6 6 3.2 5.3 10 1.8 3.5 5.5 11 1. Given three production functions for a firm operating in longrun capacity, identify which production function gives optimal production given the capital outlay in Table 2. [10 points] 2. Identify how much to spend for labor and kapital in order to maximize production [10 points] 3. Graph the equilibrium condition. [10 points] Table 2. Total Cost Outlay function of the firm for various combinations of labor and kapital Labor kapital total outlay 0 10 10 1 9 10 2 8 10 3 7 10 6 10 10 10 N W A 10 10

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