Exercises

Let $f(x_1,x_2)=(243+\frac{1}{3}(x_1-9{)}^3)x_2.$

$($a$)$ Calculate $AP(x_1|1)$ and $MP(x_1|1).($This assumes that input $1$ is the variable input and input $2$ is fixed, as we assumed in most of this chapter, with $x_2^0=1.)$

$($b$)$ Calculate $AP(x_2|x_1^0)$ and $MP(x_2|x_1^0).($This assumes that input $2$ is the variable input and input $1$ is fixed.$)$

$($c$)$ Can you see from the comparison how these two inputs play very different roles in this technology?