Suppose That the Production Function Is F(x₁, X₂) = (X^a₁

question 25

Multiple Choice

Suppose that the production function is f(x₁, x₂) = (x^a₁ + x^a₂) b, where a and b are positive constants. For what values of a and b is there a diminishing technical rate of substitution?

• A) For any value of a if b < 1
• B) For any values of a and b if ab < 1
• C) For any values of a and b if a > b
• D) For any value of b if a < 1
• E) None of the above.

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