Question: Consider the production function: y : 0.5x] X22 1) Are there constant returns to scale, increasing returns to scale or decreasing returns to scale? 2)

Consider the production function: y : 0.5x] X22 1) Are there

Consider the production function: y : 0.5x] X22 1) Are there constant returns to scale, increasing returns to scale or decreasing returns to scale? 2) Solve for MP1. 3) Solve for MP2. 4) Solve for TRS

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