Answered: Suppose that the production function is…

Suppose that the production function is ƒ(x1,x2) = (xĩ + x²)º, where a and b are positive constants. For what values of a and b is there a diminishing technical rate of substitution (TRS)?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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