onsider production function f $($x$1$; x$2)=3$x$1+2$x$2($input $1$ is labor and

input $2$ is capital$).$

$($a$)$ Draw isoquant curves.

$($b$)$ Draw marginal product of labor curve by $$xing capital at x$2=1.$

$($c$)$ Show that this production function exhibits constant returns to scale.

$3.$ Consider production function f $($x$1$; x$2)=$ x $2$

$3$

$1$ x $2$

$3$

$2($input $1$ is labor and input

$2$ is capital$).$

$($a$)$ Draw isoquant curves.

$($b$)$ Draw marginal product of labor curve by $$xing capital at x$2=1.$ Is

marginal product of labor diminishing or increasing?

$($c$)$ Show that this production function exhibits increasing returns to

scale.

$4.$ Consider production function f $($x$1$; x$2)=$ minfx$1$; x$2$g $($input $1$ is labor

and input $2$ is capital$).$

$($a$)$ Draw isoquant curves.

$($b$)$ Draw marginal product of labor curve by $$xing capital at x$2=1$

$($tricky$).$

$($c$)$ Show that this production function exhibits constant returns to scale.

$1$