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Represent, on a clearly labelled graph, the point(s) ofcost minimization (cost minimizing levels of x1 and x2) for a firm with production technology given by
Represent, on a clearly labelled graph, the point(s) ofcost minimization (cost minimizing levels of x1 and x2) for a firm with production technology given by y=f(x1,x2)= x1+2x2 where both inputs are variable. Assume that the factor prices are given by (1,3).
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