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3) A firm uses and to produce some output, . The production function is(,)=(^2+10^2)^1/2. The price of is =200, and the price of L is
3) A firm uses and to produce some output, . The production function is(,)=(^2+10^2)^1/2. The price of is =200, and the price of L is =20.Given these input prices, obtain the (conditional factor demand functions and then the) cost function () for this firm. (Instead of applying short-hand formulas, I would write down the cost minimization problem and would look at its constraint for a couple of seconds, as this may simplify the derivations. Just an idea.)
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