For the production functions in the previous question calculate the marginal product of x 1 (or MP K for part b) and the technical rate of substitution. Graph one or two isoquants for each production ...

In estimating parameters of the Cobb-Douglas production function, assuming competition and profit maximization, the estimator to be employed depends on the specification of the behavior of the ...

In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...