Answer to Question #144573 in Microeconomics for asif

Question

The Cobb–Douglas production function is
y=Z1^aZ2^b a>0, b>0

show that the MP1 = ay/z1, MP2 = by/z2

What is the MRTS21? How does it vary with: (a) y; (b) z2 /z1?

Answer 1

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