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Please answer all questions and show work(if necessary). Thank you. Q U E S T I O N 3 What is the technical rate of

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Please answer all questions and show work(if necessary). Thank you.

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Q U E S T I O N 3 What is the technical rate of substitution for the following production function? f(x1,x2)= 2X] +4362 where x1 = 8 denotes input 1 and x2 = 4 denotes input 2 |:| QUESTION 4 What is the technical rate of substitution for the following production function? Round to the fourth decimal place. 3 2 _ Z 10 x1,x2) 33:13:2 where x1 = 10 denotes input 1 and x2 = 8 denotes input 2 Z QUESTION 1 Inputs are also called 59"\" a. factors of production f\" b. conditional factor demands 5:\" c. isoquants f\" d. marginal product QUESTION 2 The technological constraints of the firm can be graphically depicted using (choose all that apply I" a. conditional factor demands I b. isoquants I c. production function I d. technical rate of substitution QUESTION 5 When the slope of the production function becomes flatter as we increase the amounts of inputs this means that the production function exhibits, (check all that apply. I\" a. constant returns to scale I\" b. diminishing rate of technical substitution I\" c. decreasing returns to scale I\" d. diminishing marginal product

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