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Suppose that there is one input, labor (L), and that there are two outputs, goods 1 and 2. The production function for good 1 is y1 = f1(L), and the production function for good 2 is y2 = f2(L).
There is one unit of labor available for use in the production of goods 1 or 2. Calculate a formula for the total output possibility set for goods 1 and 2 and draw it when
(a) √f1(L) = L and f2(L) = 2L.
(b) f1(L) = √L and f2(L) = 2 L.
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