Suppose Widget Corp. has the production function = ()/( + )

(a) Assuming this firm is a price-taker, find its cost function.

(b) If every firm in the widget industry has this same production function and behaves as a price-taker, and the factor prices are = 4, = 9, what will be the long run supply curve of widgets?

(c) If the market demand for widgets is = 200 2 what will be the equilibrium price and quantity traded of widgets?