A firm has the production function y= f(x1,x2)= 0.25x11/2 x21/2 . Input prices are w1=$4 and w2= $16
a) Use the technical rate of substitution, the input price rate, and the production function to compute the conditionial input demand fucntion x1(y) and x2(y).
b) Compute the firm's long run cost function c(y).
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A firm has the production function y= f(x1,x2)= 0.25x11/2 x21/2 . Input prices are w1=$4 and w2=...
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