Question: Need help with question. Do not know how to start. 1. Technology and production for 3 points. (a) Does the production function f (X1, X2)

Need help with question. Do not know how to start.

1. Technology and production for 3 points. (a) Does the production function f (X1, X2) = (X1 + 2x2) 3 exhibit IRS, CRS, or DRS? Show your work. (1 point) (b) The production function is f (1, X2) = 3Vx1 + In (X2 + 1). Find TRS1. Show your work. (1 point) (c) The production function is f (X1, X2) = max {3x1, 5x2}. Sketch clearly the iso- quant corresponding to the level of production q = 15. I only want to see one isoquant! (1 point) 20 19 18 17 16 T 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

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