Question: A company has a production function (1, 2) = 1 1 / 2, 2 1 / 2.The price of the product it produces is 4

A company has a production function (1, 2) = 1 1 / 2, 2 1 / 2.The price of the product it produces is 4 and the prices of the coefficients are 1 and 2.

A. Write the equations that show that the value of the marginal product of each factor of production is equal to its wage.

B. If 1 = 22, what is the relation 2?

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