A firm has two variable factors and a production function f (x1, x2) = x11/2x12/2. The price
Question:
(a) Write the two equations that say that the value of the marginal product of each factor is equal to its wage.
(b) For this production function, is it possible to solve the two marginal productivity equations uniquely for x1 and x2?
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a 2 x 1 1 2 x 1 2 2 w 1 a...View the full answer
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