Order the answer to: Suppose that the production function is f(x1, x2) = Cxa1

Academic Writing business-economics Order the answer to: Suppose that the production function is f(x1, x2) = Cxa1

business-economics

Order the answer to: Suppose that the production function is f(x1, x2) = Cxa1

Question Suppose that the production function is f(x1, x2) = Cxa1 xb2, where a, b, and C are positive constants.
(a) For what positive values of a, b, and C are there decreasing returns to scale? _______. Constant returns to scale? _______. Increasing returns to scale? _______.
(b) For what positive values of a, b, and C is there decreasing marginal product for factor 1?
(c) For what positive values of a, b, and C is there diminishing technical rate of substitution?
Subject business-economics
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