Question: Suppose the production function is Cobb - Douglas and f ( x 1 , x 2 ) = x 1 / 2 1 x 3

Suppose the production function is Cobb-Douglas and f(x1, x2)= x1/2
1 x3/2
2.
(a) Write an expression for the marginal products of x1 and x1.
(b) Is the marginal product of x1 increasing or decreasing for small increases
in x1, holding x2 fixed?
(c) Is the marginal product of x2 increasing or decreasing for small increases
in x2, holding x1 fixed?

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