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    hey guys i need help on these questions
    1) Show in a diagram that a production function can have diminishing
    marginal returns to a factor and constant returns to scale.
    2)In the short run, a firm cannot vary its capital, K = 2 , but can vary its
    labor, L . It produces output q . Explain why the firm will or will not
    experience diminishing marginal returns to labor in the short run if its
    production function is:
    a. q =10L + K
    b.L^-1/2 x K^-1/2
    3) A firm’s cost curve is 2 3 C = F +10q − bq + q , where b > 0.
    a. For what values of b are cost average cost, and average variable cost
    positive? (From now on, assume that all these measures of cost are
    positive at every output level.)
    thanks a lot, rep will be given
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    First one is:

    i) draw a series of isoquants(multiples of 1st) , then draw a horizontal line and mark the intersections with each isoquant. You should demonstrate that each higher isoquants requires a higher proportional increase in the factor than the proportional increase in output, hence diminishing returns.
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    Me and Bubbles is it ok if you could draw it for me pls?
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    bump
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    (Original post by roshi)
    Me and Bubbles is it ok if you could draw it for me pls?

    something like this...

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    thanks
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    does anyone know how to do questions 2 and 3?
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    bump
 
 
 
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