Intermediate Microeconomics and Its Application 12th Edition by Walter Nicholson,Christopher Snyder

تمرين 11

For the Cobb-Douglas production function in Problem 6.7, it can be shown (using calculus) that
If the Cobb-Douglas exhibits constant returns to scale (a + b = 1), show that
a. Both marginal productivities are diminishing.
b. The RTS for this function is given by
c. The function exhibits a diminishing RTS.