Graph the total cost function, TC(y). Find and graph the long run average cost function, LAC(y). e). Suppose now that z 2 is fixed at 2. Find Herongate Horses's total product function, TP(z 1). f).

Arguably therefore, the production functions used in economic theory—whether spouted by mainstream Neoclassical or non-orthodox Post Keynesians—deserve to “collapse in deepest humiliation”.