Answer on Microeconomics Question for Zach Sonenblum
where x1 and x2 are the only two inputs used to produce Y.
Part (i): Suppose that in the short run, x2 is fixed at 4 units. What is the marginal product of x1 when the firm produces 9 units of output? What is the marginal product of x1 when the firm produces 20 units of output? Explain your answer fully.
Part (ii): Suppose that in the short run, x2 is fixed at 4 units. The marginal product of x1 exhibits a discontinuity. Find the general conditions that give rise to each of the two possible values:
x1 < _____ ⇒ MP1=_____ x1 > _____ ⇒ MP1=_____
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