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Mark launders his white clothes using the production function 14- q = 2B + G, 12- where B is the number of cups of Clorox bleach and G is the number of cups of a generic bleach, where Clorox bleach is two times as potent

Economics Nov 07, 2020

Mark launders his white clothes using the production function 14- q = 2B + G, 12- where B is the number of cups of Clorox bleach and G is the number of cups of a generic bleach, where Clorox bleach is two times as potent. 10- Use the line drawing tool to graph an isoquant for output of q = 12. Label this line 'isoquant'. 8- Carefully follow the instructions above, and only draw the required object. G, Cups of generic bleach What is the marginal product of B? The marginal product of B is (Enter a numeric response using an integer.) What is the marginal rate of technical substitution at each point on an isoquant? 2- The marginal rate of technical substitution is along the isoquant. 0 8 2 6 B, Cups of Clorox bleach

Expert Solution

Given: q = 2B + G

The isoquant for q = 12 is given by:

2B + G = 12

The isoquant is shown below:

The marginal product fo B is calculated as follows:

MPB = dq/dB

MPB = 2

Thus, the marginal product of B is 2.

The marginal rate of technical substitution at each point on the isoquant is given by:

MRTS = MPB/MPG

where,

MPB = 2 and

MPG = dq/dG = 1

So, MRTS = MPB/MPG = 2/1 = 2

Thus, the marginal rate of technical substitution is 12 along the isoquant.

 

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