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q equals 4 l plus 2 k with l on the horizontal axis and k on the vertical axis, draw an isoquant. the slope of this isoquant equals

Sagot :

The slope of this isoquant equals -2.

What is an isoquant?

A contour line formed across a set of locations where the same quantity of output is produced while changing the quantities of two or more inputs is called an isoquant (derived from quantity and the Greek word iso, meaning equal). A factor of production, like as labor, money, land, or organization, is typically represented by the x and y axes on an isoquant. Another name for an isoquant is a "Iso-Product Curve" or a "Equal Product Curve."

The isoquant mapping deals with the cost-minimization, profit, and output maximization problems of producers, whereas an indifference curve mapping helps consumers address the utility-maximizing problem. Indifference curves and isoquants diverge much more.

Calculations:

[tex]q=4L+2K\\So, MP_{L}=\frac{dq}{dL} =4\\MP_{K}=\frac{dq}{dK} =2\\So,Slope=\frac{-MP_{L}}{MP_{K}}\\ =\frac{-4}{2} =-2[/tex]

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