Question: Solve it plzzzzzzzz 1. TECHNOLOGY (1|!)I POINTS) You are operating a rm that has the following production function 1 2 f (221,222) = 1n (231523;)

Solve it plzzzzzzzz

Solve it plzzzzzzzz 1. TECHNOLOGY (1|!)I POINTS) You are operating a rm

1. TECHNOLOGY (1|!)I POINTS) You are operating a rm that has the following production function 1 2 f (221,222) = 1n (231523;) where 1:1 and 1:2 are inputs into the production process. (a) (2 POINTS) Calculate the marginal product of 2:1 and the marginal product of 32. (b) (3 POINTS) Does your production function have constant, increasing, or diminishing marginal products for 531 and 2:2? Explain. (c) (2 POINTS) Calculate the technical rate of substitution for your production function. (d) (3 POINTS) Derive an expression for the isoquant for 1 unit of output. In your isoquant equation, express 3:2 as a function of 11:1

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