Infоrmаtiоn fоr questions 17-20 The following figure shows four isoquаnts for а travel agency that sells summer cruises. Units of labor are on the horizontal axis, and units of capital are on the vertical axis. Each isoquant is labeled with the output that its combinations of labor and capital produce, in number of cruises. Note that each grid spacing is 0.25 units of labor or capital. Also shown are some auxiliary lines in solid black. You can use these as isocost lines, as needed. The two top black lines have slope=2, and the two bottom black lines have slope=1 (all of these slopes are in absolute value). Note that each of the auxiliary lines is tangent to an isoquant, and that its tangency point is marked with a dot. Only the exact answers are accepted. For that purpose, adopt the convention: if a line seems to cross a grid point, assume that it does so exactly. Also, assume that the four dots are exactly at a grid intersection. For example, the lower, green, dot lies at point (L=0.75, K=1.25), exactly. Enter 0, if the answer cannot be obtained with the information given. If this firm employs 3 units of labor and 1.5 units of capital, how many cruises will it sell?
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