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2. (Competitive Firm) Suppose a competitive firm that has the production function of y = f (1, X2) = x1 2 . The input prices

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2. (Competitive Firm) Suppose a competitive firm that has the production function of y = f (1, X2) = x1 2 . The input prices are w1 = 2, w2 = 2 and the output price is p = 10. (a) What is the optimal (profit maximizing) values of x1 and x2? (b) Suppose the firm is to produce 10 units of output (y = 10). Then, what is the optimal (cost minimizing) values of x1 and x2

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