For the production function $Q = a K + b L$, where the variables are graphed as usual, the equation for a typical isoquant is $K = a Q - b L$.

Question

Quizplus · Accepted Answer

The equation for a typical isoquant for the production function $Q = a K + b L$ is actually $L = -\frac{a}{b} K + \frac{1}{b} Q$, not $K = a Q - b L$. This is because an isoquant represents all combinations of capital and labor that produce a given level of output, so we want an equation that relates the two variables. The equation for a typical isoquant for the production function $Q = a K + b L$ is $K = (1/a) Q - (b/a) L$.

For the Production Function Q=aK+bLQ = a K + b LQ=aK+bL

For the Production Function $Q = a K + b L$