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For each of the below production functions, find the minimum cost of producing 2 units of output when input prices are W1 = 2 and
For each of the below production functions, find the minimum cost of producing 2 units of output when input prices are W1 = 2 and w2 = 2. Wherever rounding is needed, please round to 3 decimal points. a) (3 points) f(Z1 , Z2) = [min { z1, 3z2} ]2 b) (3 points) f (z1, Z2) = Z1(Z2 - 8) where z1 > 0 and z2 > 8
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