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 CobbDouglas and fx x x
x
a Write an expression for the marginal products of x and x
b Is the marginal product of x increasing or decreasing for small increases
in x holding x fixed?
c Is the marginal product of x increasing or decreasing for small increases
in x holding x fixed?
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