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Question: E the revenue maximizing point. Question 3: A firm producing locks has a production q f(K, AvKL w...

urgent pls microeconomics

Show transcribed image text e the revenue maximizing point. Question 3: A firm producing locks has a production q f(K, AvKL where ocks produced function given by used during a shift and L sta during a shift, K stands for machine hours mployed during a shift. a) (5 pts) sketch a typical isoquant for q 40 locks b) (5 pts) Determine the returns to scale of this production function c) (5 pts) Calculate the marginal product of labor and that of capital. d) (5 pts) Calculate the elasticity of substitution. ven w 2 DT per hour and v 8 DT per hour, where w denotes the wage rate of e of machine firm's objective is to produce 40 locks per shift

e the revenue maximizing point. Question 3: A firm producing locks has a production q f(K, AvKL where ocks produced function given by used during a shift and L sta during a shift, K stands for machine hours mployed during a shift. a) (5 pts) sketch a typical isoquant for q 40 locks b) (5 pts) Determine the returns to scale of this production function c) (5 pts) Calculate the marginal product of labor and that of capital. d) (5 pts) Calculate the elasticity of substitution. ven w 2 DT per hour and v 8 DT per hour, where w denotes the wage rate of e of machine firm's objective is to produce 40 locks per shift