Question: 2. (10 points) (Cost Function) Suppose a competitive firm uses two inputs (1,2), and the prices of these inputs are denoted by wi and w2.

2. (10 points) (Cost Function) Suppose a competitive firm uses two inputs (1,2), and the prices of these inputs are denoted by wi and w2. Derive the cost function for the below production functions. Also, clearly explain the logic behind your derivation. " (a) f(x1, 12) = min {5x1, 2x2}. (b) f(x1, 12) = 2x1 + 5x2

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