19.2 (0) Suppose X₁ and x2 are used in fixed proportions and f(x₁,x2) = min{x₁,x₂).(a) Suppose that x₁ < x₂. The marginal product for x, is andfor small(increases, remains constant, decreases),K6 TECHNOLOGY(Ch. 19)increases in x₁. For x₂ the marginal product is, and (increases, remainsconstant, decreases).for small increases in x₂. Thetechnical rate of substitution between x₂ and x₁ istechnologydemonstrates (increasing, constant,Thisdecreasing)returns to scale.(b) Suppose that f(xx) = min(x,x) and x₁ = x₂= 20. What is themarginal product of a small increase in x₁? What is the marginal productof a small increase in x₂? The marginal product of x, will (increase,if the amount of x2 is increaseddecrease, stay constant)by a little bit.Douglar and

The technical rate of substitution (TRS), also known as the marginal rate of technical substitution…

19.2 (0) Suppose x, and x2 are used in fixed proportions and f(x,x) = min(x,x). (a) Suppose that x₁ < x₂. The marginal product for x, is (increases, remains constant, decreases). 6 TECHNOLOGY (Ch. 19) increases in x₁. For x₂ the marginal product is constant, decreases). technical rate of substitution between x2 and x₁ is technology demonstrates (increasing, and for small and (increases, remains for small increases in x₂. The constant, This decreasing) returns to scale. (b) Suppose that f(xx) = min(xLxz) and x₁ = x₂= 20. What is the marginal product of a small increase in x₁? What is the marginal product

19.2 (0) Suppose x, and x2 are used in fixed proportions and f(x,x) = min(x,x). (a) Suppose that x₁ < x₂. The marginal product for x, is (increases, remains constant, decreases). 6 TECHNOLOGY (Ch. 19) increases in x₁. For x₂ the marginal product is constant, decreases). technical rate of substitution between x2 and x₁ is technology demonstrates (increasing, and for small and (increases, remains for small increases in x₂. The constant, This decreasing) returns to scale. (b) Suppose that f(xx) = min(xLxz) and x₁ = x₂= 20. What is the marginal product of a small increase in x₁? What is the marginal product

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

19.2 (0) Suppose X₁ and x2 are used in fixed proportions and f(x₁,x2) = min{x₁,x₂).
(a) Suppose that x₁ < x₂. The marginal product for x, is and
for small
(increases, remains constant, decreases),
K
6 TECHNOLOGY
(Ch. 19)
increases in x₁. For x₂ the marginal product is, and (increases, remains
constant, decreases).
for small increases in x₂. The
technical rate of substitution between x₂ and x₁ is
technology
demonstrates (increasing, constant,
This
decreasing)
returns to scale.
(b) Suppose that f(xx) = min(x,x) and x₁ = x₂= 20. What is the
marginal product of a small increase in x₁? What is the marginal product
of a small increase in x₂? The marginal product of x, will (increase,
if the amount of x2 is increased
decrease, stay constant)
by a little bit.
Douglar and

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handwritten of MPL, MPK, and MRTS
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