Business, 09.11.2019 04:31 taelor32

For each of the following examples, draw a representative isoquant. what can you say about the marginal rate of technical substitution in each case?
a. a firm can hire only full-time employees to produce its output, or it can hire some combination of fulltime and part-time employees. for each full-time worker let go, the firm must hire an increasing number of temporary employees to maintain the same level of output.
b. a firm finds that it can always trade two units of labor for one unit of capital and still keep output constant.
c. a firm requires exactly two full-time workers to operate each piece of machinery in the factory

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