New York University ECON-SHU ECON-SHU 1289 Let the production function be f(x1, x2) = x1(x1 + x2^(1/2)). Find…
Let the production function be f(x1, x2) = x1(x1 + x2^(1/2)). Find the technical rate of substitution of input 1 (TRS1) and provide an interpretation when x1 = 1 and x2 = 4.
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