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3.2 Finding the optimal level of input (20 points) Solve the problem you just formulated to find the optimal level of the first input, fi.e.,

3.2 Finding the optimal level of input (20 points)\ Solve the problem you just formulated to find the optimal level of the first input, fi.e.,

G_(1)^(**)

.\ Would there be an optimal choice if

\\\\gamma _(1)>1

?\ 3.3 Elasticity (20 points)\ What is the elasticity of

Y

with respect to

G_(1)

, i.e., the sensitivity of output to input

G_(1)

?\

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3.2 Finding the optimal level of input (20 points) 1. Solve the problem you just formulated to find the optimal level of the first input, { i.e., G1. 2. Would there be an optimal choice if 1>1 ? 3.3 Elasticity (20 points) What is the elasticity of Y with respect to G1, i.e., the sensitivity of output to input G1

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