Final exam for advanced micro (PhD level, Spring 2021)

B. Consider the following production function y = ln(m1mg) The price of y is p, and the price for 331 and $2 are ml and 102 correspondingly. 1. Derive the factor demands x1(p,w) and $2 (10, w) 2. Derive the supply function y(p, w) 3. Find the prot function (1), w) 4. Derive the conditional factor demands h1 (10,10) and h2(p, w) 5. Find the cost function C(w, y)