Question
Ignoring hedonic pricing considerations in input(s) and output(s) and also ignoring dynamics, please state (using mathematical equations AND a well written description of these equations)
Ignoring hedonic pricing considerations in input(s) and output(s) and also ignoring dynamics, please state (using mathematical equations AND a well written description of these equations) what the FOCs (First Order Conditions) of input use for profit maximization are for the ONE OUTPUT (Y) - TWO INPUTS (X1 and X2) case look like under TWO SCENARIOS: (a) when the output market for Y operates under a NonPerfectly Competitive market structure, and both inputs X1 and X2 operate under Perfectly Competitive market structures; and (b) when the output market for Y and input X1 operate under Perfectly Competitive market structures, and input X2 operates under a Non-Perfectly Competitive market structure. (TWO answers labeled 3.a and 3.b needed here ... containing two equations each!)
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