Figure 8.58 gives contour diagrams for different Cobb- Douglas production functions
Chapter 8, Problem 15(choose chapter or problem)
Figure 8.58 gives contour diagrams for different Cobb- Douglas production functions F(L,K). Match each contour diagram with the correct statement. (A) Tripling each input triples output. (B) Quadrupling each input doubles output. (C) Doubling each input almost triples output. 1 2 3 1 2 3 F = 1 F = 2 F = 3 L (I) K 1 2 3 1 2 3 F = 1 F = 1.5 L (II) K 1 2 3 1 2 3 F = 4 F = 3 F = 2 F = 1 L (III) K Figure 8.58
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