Answer to Question #216496 in Microeconomics for Shams

Question #216496

How to derive TRS for Cobb doglous production function

Expert's answer

In technical rate of substitution in Cobb-Douglas technology, we need to derive the technical rate of substitution. Suppose the given function is defined as "f(x_1, x_2) = x_1^a x_2^{1-a}"

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