2. I enjoy making ceramic pots and selling them at fairs. Suppose my only inputs are clay (x1, pounds) and electricity (x2, kilowatt hours), which is needed to dry and fire the pots. Each week, I can combine these inputs according to the production function below to produce the pots. 0.5 0.2 y = X1 X2 where, y - ceramic pots per week; x1 - pounds of clay; and x2 - kilowatt hours of electricity If clay costs $5.00 per pound (call this ri) and electricity costs $1.00 per kilowatt hour (call this 12), and I can sell each pot for $82.00 (assume perfect competition). For this production function and costs (SHOW YOUR WORK FROM THE INPUT SIDE): a. How many pounds of clay (x1) I should use to produce the pots? b. How much electricity (x2) will I use to produce the pots? c. What is the total cost of clay and electricity when I maximize profit?' What is my total revenue? What is my profit? d. What is the value of the MFC1, MFC2, MVP, and MVP2? Page 1 of 2