Draw the relavant isoquant map and isocost line if


A producer of light bulbs claims to have the folllowing production function: Q=10L*G. 


a) what is the marginal product of labor? or glass? 


b)Draw the relavant isoquant map and isocost line if the cost of labor is $4 per work-hour and the cost of glass is $4 per pound and 90 light bulds are to be produced. What is the cost minimizing combination of glass and labor.

c) If Q were to increase to 160 light bulbs, would this firm exhibits constant, increasing or decreasing returns to scale. Explain.

Request for Solution File

Ask an Expert for Answer!!
Macroeconomics: Draw the relavant isoquant map and isocost line if
Reference No:- TGS0106127

Expected delivery within 24 Hours