Question: A firm has the following long-run production function: y = x_1^ 2/3 x_2^1/3 a. For input 1, does the law of diminishing returns hold? Calculate

A firm has the following long-run production function: y = x_1^ 2/3 x_2^1/3 a. For input 1, does the "law of diminishing returns" hold? Calculate the appropriate marginal product and show if this implies returns.

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