Hello everyone,
I need help with the following problems.
Find the partial derivative of the following:
1) f(X1, X2) = X1^1/2*X2^3/4
2) f(x1,x2,x3) = ln(x1)x2 + 3x3
3) f(x,y) = 3x + 4y
4) f(x,y) = x^1/2 +x/y + y/x
Find the maximum of the following function:
1) f(x1,x2) = 5x1 - x1^2 + 2 - x2^2
Consider a production function given as Q(X_1,X_2 )= 〖〖 X〗_1〗^0.4 〖X_2〗^0.6.
Calculate the marginal product of both inputs.
Calculate the Marginal rate of technical substitution of X_1 for X_2.