Question-5 (Marginal Products and Returns to Scale) function is Cobb-Douglas and f(x1; x2) = x/2x3/2 Suppose the production 1. Write an expression for the marginal product of 21. 2. Does marginal product of ₁ increase for small increases in x1, holding 2 fixed? Explain 3. Does an increase in the amount of 22 lead to decrease the marginal product of x1? Explain 4. What is the the technical rate of substitution between 2 and 21? 5. What is the type of returns to scale of this production function? (Increasing, decreasing, constant) 2

Q: I need help working through this problem

A: Market clearing price and quantity is archived where both seller and buyer agree to exchange their…

Q: An agricultural seed company has an inverse demand given by: P = 120 - 2Q, and a cost function given…

A: Note : In case of multiple questions , we answer only the first question.  The answer to your first…

Q: the quantity of a good or service which consumers want and have the ability to purchase

A: Quantity- It is the number or amount of goods or services.

Q: Let’s say that you need a car. How would you go about deciding which car to buy?

A: The mechanism by which a person or a company decides the course of action to take is referred to as…

Q: Please write more clearly.

A: Production function shows the relationship between the inputs used and output produced. The marginal…

Q: What are some common examples of expenses?

A: To generate revenue, the business organizes many activities. The cost of doing these activities are…

Q: i need help with all of them

A: The government uses price controls to exert direct influence over market prices. It has an impact on…

Q: Luis and his best friend Faith want to spend as much time as possible at the local amusement park…

A: The objective of the question is to find out how much Faith will owe Luis after they buy season…

Q: how do you write an audit of how you nonverbally communicate?

A: Title: Audit of Nonverbal Communication SkillsIntroduction:This audit aims to evaluate and assess…

Q: Sara has health insurance with a $2,000 annual deductible, a $3,000 stop loss provision and 80/20…

A: Insurance refers to a type of financial product intended to shield people and businesses from the…

Q: The option or alternatives from which decision are made

A: Alternatives ought to reflect generously various ways to deal with the issue or various needs across…

Q: What is a CD and how do they work?

A: Certificates of deposit (CD) are secured form of long period of time deposits. The money is kept in…

Q: What are some mandates and compliance regulations that protect people's identity and privacy?

A: Concept Privacy refers to a person's ability to control when, how, and to what extent their personal…

Q: Where do you get the number 11?

A: Given, Marginal propensity to save (mps)=0.2 Marginal propensity to import (mpm)=0.1 Marginal income…

Q: Where does Mark Dean call home

A: Mark Dean is known as one of the fathers of the personal computer