Answered: For the production function y = 2x1 +…

For the production function y = 2x1 + 3x2, What is the Technical Rate of Substitution? (Remember the negative sign.) Round your answer to two decimal places, e.g., -0.235 should be written as -0.24.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.4: Costs Of Production: Total, Average, Marginal

Problem 1ST

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For the production function $ y = 2x_1 + 3x_2 $, what is the Technical Rate of Substitution? (Remember the negative sign.) Round your answer to two decimal places, e.g., -0.235 should be written as -0.24.

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