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1. A firm has a production function given by f(x1, X2) = min(2x1 + x2, x1 + 2x2), where x1 is the input of factor

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1. A firm has a production function given by f(x1, X2) = min(2x1 + x2, x1 + 2x2), where x1 is the input of factor 1 and X2 is the input of factor 2. Suppose that the price of input factor 1 is wj > 0, the price of input factor 2 is w2 > 0, and the output of this firm is y. (1) What is the conditional demand functions for input factors 1 and 2? (30 points) (2) What is the cost function of this firm? (20 points)

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