A company has a production function given by f(x,y)=min { 2x,2+y } and another has a production func


Question: A company has a production function given by \[f(x,y)=\min \left\{ 2x,2+y \right\}\] and another has a production function given by \[g(x,y)=x+\min \left\{ x,y \right\}\].

a) Graph the isoquants of each production function.

b) Do each of these functions have increasing, decreasing or constant return to scale.

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Answer: The solution consists of 4 pages
Deliverables: Word Document

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