Question

Use a scatter-plot to graph the isoquants.

L	Kfor Q=5	Kfor Q=10	Kfor Q=15
0
5	12,500
10	6,250	25,000
15	4,167	16,667
20	3,125	12,500	28,125
25	2,500	10,000	22,500
30	2,083	8,333	18,750
35	1,786	7,143	16,071
40	1,563	6,250	14,063
45	1,389	5,556	12,500
50	1,250	5,000	11,250
55	1,136	4,545	10,227
60	1,042	4,167	9,375
65	962	3,846	8,654
70	893	3,571	8,036
75	833	3,333	7,500
80	781	3,125	7,031
85	735	2,941	6,618
90	694	2,778	6,250
95	658	2,632	5,921
100	625	2,500	5,625
105	595	2,381	5,357
110	568	2,273	5,114
115	543	2,174	4,891

Use the graph to complete the following table:

Q quantity of L that must be combined with K-5000 to produce each quantity of output (q) 10 15

Answer 1

Following is the graph -

30000 25000 20000 15000 10000 5000 20 40 60 80 100 120 140

When Q is 5, and K = 5000 then L must be 12

When Q is 10, and K = 5000 then L must be 1250

When Q is 15, and K = 5000 then L must be 115