1.Find the firm's demand for inputs (as a function of output and the input prices) 2. Find the cost function of the firm. 3. For w1= 1 and w2= 1, find the firm's supply
1.Find the firm's demand for inputs (as a function of output and the input prices) 2. Find the cost function of the firm. 3. For w1= 1 and w2= 1, find the firm's supply
Chapter9: Production Functions
Section: Chapter Questions
Problem 9.5P
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Question
![A firm has production function f(X1,X2)=X1^(1/4)
X2^(1/4). The prices of the inputs wland w2.`
1.Find the firm's demand for inputs (as a function
of output and the input prices)
2. Find the cost function of the firm.
3. For w1= 1 and w2= 1, find the firm's supply
function.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9cf8151b-bf9b-4f36-935f-8859cb70c986%2F2ea73b36-42b7-45e8-8061-e3d378ed5fac%2F77gc7sp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A firm has production function f(X1,X2)=X1^(1/4)
X2^(1/4). The prices of the inputs wland w2.`
1.Find the firm's demand for inputs (as a function
of output and the input prices)
2. Find the cost function of the firm.
3. For w1= 1 and w2= 1, find the firm's supply
function.
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