(I AM LOOKING TO OBSERVE THE ALGEBRAIC MATHEMATICS BEHIND THIS ENTIRE PROBLEM, THE EXPLANATION ISN'T AS IMPORTANT TO ME)
A jeweler produces bracelets according to the fixed coefficient production function:
Q = min(K/40, L/1)
where K represents the umber of links necessary to produce an 8 inch bracelet and L represents the number of laborers.
PLOT THE ISOQUANT'S associated with: Q = 1 and Q = 2 bracelets.
What are the most efficient combinations of labor and capital that can be used to produce 1 and 2 bracelets? (PLEASE SHOW THE ALGEBRA/ECONOMIC ARITHMETIC BEHIND THIS QUESTION).