Question: A competitive firm s production function is f ( x , x ) = x 1 / 2 + x 1 / 2 . The

A competitive firms production function is f(x ,x )= x1/2+x1/2. The price of each input is 1212
$2.
(a)What is the optimal cost function?
(b)What is the profit maximizing output level of the firm if the market price for the output is $80?

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