Suppose that a firm has a production function given by f(21, 22, 23) Arizz If a 2.10, b= 1.10, and c= 1.20, the marginal products of x1, x2, and x3 (in this order) are all decreasing increasing, decreasing, and constant. all increasing if .4>1. decreasing, increasing, and decreasing all increasing.

Suppose that a firm has a production function given by f(21, 22, 23) Arizz If a 2.10, b= 1.10, and c= 1.20, the marginal products of x1, x2, and x3 (in this order) are all decreasing increasing, decreasing, and constant. all increasing if .4>1. decreasing, increasing, and decreasing all increasing.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter9: Production Functions

Section: Chapter Questions

Problem 9.9P

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

M10

Suppose that a firm has a production function given by
f(21, 22, 23)
Azizzj.
If a 2.10, b= 1.10, and c= 1.20, the marginal products of x1, x2, and x3 (in this order) are
all decreasing
increasing, decreasing, and constant.
all increasing if 4>1.
decreasing, increasing, and decreasing
all increasing.

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