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1/4 16 y = f (x, , x2) = x, X2 , X, 70, X2 70 fix, ,x2) is a production function. i) calculate the
1/4 16 y = f (x, , x2) = x, X2 , X, 70, X2 70 fix, ,x2) is a production function. i) calculate the first order total differential ") Set the first order total differential equal to zero and solve for dxz . ( This is known as the slope of the isoquant ) in ) - 1 times the slope of the isoquant is called MR TS ( marginal rate of technical substitution) Calculate MR TS. in ) Complete the definition of MR TS: MRTS is the ( marginal ) rate at which
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