Question

Using the​ 3-point curved line drawing​ tool, draw a second isoquant that doubles output using a production function that exhibits

increasing increasing

returns to scale. Label your curve​ 'q =​ 200.'

Carefully follow the instructions​ above, and only draw the required object.  

wyd wath Pe... Kropbox - Japane... Desmos Graphin..._ Meaning of teebu... first academy lees... U Irvine - MYA.. mathxl.com/Student/Playe ionid=15&flushed=false&cd=57335268.centerwin=yes 3 Hi, Econ 100 A Fall 2019 mics Feifan Zhang S1 11/5/19 12:22 PM Do Homework Homework: Chapter 6 Homework Save Do Home Score: 0 of 1 pt 15 of 15 (15 complete) HW Score: 90%, 13.5 of 15 pts 29 Concept Question 4.4 Question Help Until yo Using the 3-point curved line drawing tool draw a second isoguant that doubles output using a production function that exhibits increasing returns to scale Labe your curve '9 = 200. Carefully follow the instructions above, and only draw the required object: Name: Due: Last Worked Current Scor Attempts ✓ Question Question estion 4 (1/1) estion 8 (1/1) estion 12 (1/1) Question % Sorry, that's not correct. ✓ Question If the production function exhibits increasing returns to scale, then to double output, it will require less than double the amount of labor and capital. Your isoquant should intersect the line OA at a point where inputs are less than doubled. OK OK Click a line or point to Sum Check Answer This course (Econ All parts showing

Answer 1

As the graph currently shows in the picture,the labor and capital have just been doubled to find q=200 (For example, along the pink line, q=100 passes through labor=20 and capital=4 and q=200 passes through labor=40 and capital=8) This is actually constant returns to scale, as inputs have been doubled and the output has been doubled. For increasing returns to scale, the output actually gets multiplied by a factor higher than that of the inputs.

For example, Inputs(capital and labor) increase by 1.5 times and the output(from q=100 to q=200) doubles is a good example of increasing returns to scale. An appropriate curve will be the same curve passing through (30,6) with Labor=30 and capital=6 On the pink line

Hope it helps. Do ask for any clarifications required