 | GetTextbooks.co.uk Compare Price & Save up to 90% | | |
|
The University of the South - EASTER (SPRING) 2011 | ||
Section A | ||
 | Schaum's Outline of Microeconomic Theory (3rd Edition) by Dominick Salvatore, Jit Ghosh Paperback, 364 Pages, Published 1991 ISBN-10: 0-07-054515-4 / 0070545154 ISBN-13: 978-0-07-054515-1 / 9780070545151 With 1L and IK, Q = 50; with 2L and 2K, Q = 100; with 3L and 3K, Q = 150. Thus we have constant returns to scale. Table 6.14 1L 2L 3L (b) The general equation for an isoquant is given by Q =f(L,K) and refers to the different combinations of labor and capital needed to produce a given level of out | |