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ans: ? Isoquant: ? Question1: calculate the PS, RS, TF, PF, Isoquant of CobbDouglas technology and Leontief technology. ( ) w h e n ( , ) 0q f T q? ? ?xx( ) = { : ( , ) }f q q q? ? ?x x Y( ) { ( ) : ( , ) }Q q f q q? ? ? ?x x Ylecture 1 for Chu Kechen Honors College of PS. ? Y is nonempty: we have something to do. ? Y is close: Y contain it’s boundary, ? No free lunch: See the fig. ? Free disposal: See the fig. t h e a r r a y , a n d m e a n s nn? ? ?y y y Y y Y{ 0 }n???Yn?? ? ?yYlecture 1 for Chu Kechen Honors College of PS. ? Additive (free entrance) : ? Convexity: See the fig. ? Proposition1: if Y is convex, so is V(q). ? Proposition2: if V(q) is convex, f(x) is quasiconcave. , a n d , t h e n ??? ? ? ?y Y y Y y y Y, a n d , t h e n ( 1 ) , h e r e [ 0 , 1 ]? ? ???? ? ? ? ? ?y Y y Y y y Ylecture 1 for Chu Kechen Honors College rate of substitution ? Marginal rate of transformation (MRT) of good j for good i at y and T(y)=0. ? T(y)=0, we got: See the fig. ( ) /( ) /jjiiTyM R TTy?????yy1212