2. For the following production function: y=f(x1,x2)=(1x1(1)/+2x2(1)/)k/(1);i>0,1+2=1,>0,k>0, (a) show that the cost function is derived as: c(w1,w2,y)=c(w1,w2,1)y1/k;c(w1,w2,1)[1(w1/1)1+2(w2/2)1]1/(1) (b) if =1, then the above production function reduces to: y=f(x1,x2)=x1k1x2k2;i>0,1+2=1,k>0. show that the cost function is derived as: c(w1,w2,y)=c(w1,w2,1)y1/k;c(w1,w2,1)(w1/1)1(w2/2)2 2. For the following production function: y=f(x1,x2)=(1x1(1)/+2x2(1)/)k/(1);i>0,1+2=1,>0,k>0, (a) show that the cost function is derived as: c(w1,w2,y)=c(w1,w2,1)y1/k;c(w1,w2,1)[1(w1/1)1+2(w2/2)1]1/(1) (b) if =1, then the above production function reduces to: y=f(x1,x2)=x1k1x2k2;i>0,1+2=1,k>0. show that the cost function is derived as: c(w1,w2,y)=c(w1,w2,1)y1/k;c(w1,w2,1)(w1/1)1(w2/2)2