Question: Solve clearly Consider the following CES production function defined on x1 >0 and x2 >0 y = xl, x2) = [0.3x1'2 + 0.7x2'2]'1/2 a. Find

Solve clearly Consider the following CES production function defined on x1

Solve clearly

Consider the following CES production function defined on x1 >0 and x2 >0 y = xl, x2) = [0.3x1'2 + 0.7x2'2]'1/2 a. Find the expression for the MRTS, and show that isoquants are strictly convex to the origin b. Use the concepts of determinants to determine the concavity off

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