Question: 4. Suppose a firm has the production function y = 10 ln x. (a) Find the cost function as a function of input and output

4. Suppose a firm has the production function y = 10 ln x.

(a) Find the cost function as a function of input and output prices Px and Py. Hint: Recall the realitionship between the exponential function y = e^x and y = ln x.

(b) Find the supply function as a function of ioutput price when the input price is px = 10.

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