Question: Widgets are produced using two inputs, labor, L, and capital, K. The following table provides information on how many widgets can be produced from those

Widgets are produced using two inputs, labor, L, and capital, K. The following table provides information on how many widgets can be produced from those inputs:

a) Use data from the table to plot sets of input pairs that produce the same number of widgets. Then, carefully, sketch several of the isoquants associated with this production function.
b) Find marginal products of K and L for each pair of inputs in the table.
c) Does the production function in the table exhibit decreasing, constant, or increasing returns to scale?

2 6. 10 4. 12 2. 12 14 10 6. 8. 10 12 14 16 8.

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