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A firm has the production function f(x, y) = min[2x, x + 2y). On the graph...


A firm has the production function f(x, y) = min[2x, x + 2y). On the graph below, use the line tool to draw the production is
A firm has the production function f(x, y) = min[2x, x + 2y). On the graph below, use the line tool to draw the production isoquant for this firm where f(x, y) = 10. Make sure your isoquant extends to the edges of the graph. To refer to the graphing tutorial for this question type, please click here. Production Isoquant
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Answer #1

x and y are perfect complements of each other. The production function is Leontief i.e. Fixed Proportion. So, the isoquant will be L shaped wth a kink as shown in the below diagram. Also, Marginal Rate of Technical Substitution is not defined at kink points as the isoquants are not continuous.

f(x, y) = Min (2x, x+2y) It is given that, f(x,y) = 10 Case 1 If 2x > &+@y » x>2y then, flowy) = x+2y = 10 Cape 2 If 2x < x +

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