The production function of a firm is given by q = 3x1^1/3 x2^1/3. The firm currently employs x1=1 unit of input 1 and x2 =1 unit of input 2.

a) Given p=10, w1 = 8 and w2 = 4 if the firm wants to maximise its profit, should it employ more x1/x2 or is it already operating at its maximum profit?

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Given P=10

c) What is the value of the marginal product of x1 (i.e., p*MP1)

d) What is the value of the marginal product of x2