A widget manufacturer has an infinitely substitutable production function of the form q= 2K+L a. Graph the isoquant maps for q=20, q=40, and q=60. What is the RTS along these isoquants? b. If the wage rate (w) is $1 and the rental rate on capital (v) is $1, what cost-minimizing combination of K and L will the manufacturer employ for the three different production levels in part a? What is the manufacturer’s expansion path? c. How would your answer to part b change if (v) rose to $3 with (w) remaining at $1?

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