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Assumeafirmwantstoproduce y=24unitswithaproductionfunctiongivenby f(x1, x2) = x1x2, while facing factor prices w1= 3, w2= 2. a. Find the firm's demands for both factors. b. Find the
Assumeafirmwantstoproduce y=24unitswithaproductionfunctiongivenby f(x1, x2) = x1x2, while facing factor prices w1= 3, w2= 2.
a. Find the firm's demands for both factors.
b. Find the minimum cost at which the firm can produce these 24 units.
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