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5.The prices of input (x_1,x_2,x_3,x_4) are (4, 1, 3, 2) a. If the production function is given by f(x_1,x_2 )=min{x_1,x_2}, what is the minimum cost
5.The prices of input (x_1,x_2,x_3,x_4) are (4, 1, 3, 2)
a. If the production function is given by f(x_1,x_2 )=min{x_1,x_2}, what is the minimum cost of producing one unit of output?
b. If the production function is given by f(x_1,x_2 )=x_3+x_4, what is the minimum cost of producing one unit of output?
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