ECO 303: Intermediate Microeconomic Theory Problems

ECO 303: Intermediate Microeconomic Theory Problems

Question
Question 2
Consider the production function f (x1 , x2 ) = Axa xb . Find the marginal products of factors 1 and 2.

Question 3
Find the Technical Rate of Substitution (TRS) for the production function in Question 2.


Question 4
For what values of a + b does the production function in Question 2 presents constant returns to scale?