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xxlfnconcatquotproblem 33 quotcover sheetie10quot points tota problem 33 10 points...

Question: xxlfnconcatquotproblem 33 quotcover sheetie10quot points tota problem 33 10 points...

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Xxlfn.CONCAT(Problem 33 (,Cover SheetIE10, points tota Problem 33 (10 points total) Imagine that the production function for tuna cans is given by q6K +4L where q Output of tuna cans per hour K Capital input per hour L= Labor input per hour Assuming capital is fixed a K 6, how much L is required to produce 60 tuna cans per hour? To produce 100 per hour? Now assume that capital input is fixed at K 8 what L is required to produce 60 tuna cans per hour? To produce 100 per hour. Graph the q-60 and q 100 isoquants. Indicate the points found in parts a and b. What is the MRTS along the isoquants?

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