An Ontario company has 2 inputs (X1 and X2) for the production of a given output whose production function is f X1, X2 ()=X1^(1/2) X2^(1/4) . Input 1 (X1) costs an equal salary W1 Input 2(X2) costs an equal wage W2 The price of its output is equal to $4

1) Calculate the Total Revenue (TR) of this company? 2) Calculate the total cost (TC) of this company? 3) Give the equation that the value of the marginal product of input 1 is equal to the wage of input 1? 4) Give the equation that the value of the marginal product of input 2 is equal to the wage of input 2? 5) Solve the two equations with two unknowns X1 and X2 to obtain the quantities of input 1 and input 2 which maximize the profit of this firm based on W1 and W2? 6) How much X1 and X2 do we get? 7) What is the quantity of input 1 demanded by the firm if the salary of input 1 is worth $2, and if the salary of input 2 is worth $1 8) What will be the quantity of input 2 taking into account question 7; how much output will it produce? and what will be his profit?