Question: A cost-minimizing firm has a CRS production function q= f(x) = A(012 + 02.2, + 032 + 0124 +0523) where i-1 Q; = 1, r

 A cost-minimizing firm has a CRS production function q= f(x) =

A cost-minimizing firm has a CRS production function q= f(x) = A(012" + 02.2", + 032" + 0124 +0523) where i-1 Q; = 1, r = 1 - 1 and o 1.01. When facing with prices w = (1,1,1, 1, 1), the firm uses the input combination x = (8,7,6,8,9) to produce 29 units of output. Calibrate the production function, derive the conditional input demand functions x(w, Q) and the cost function C* (w,Q). What are correct? Numerical results are rounded to the nearest 3-digit. Select one or more: Select one or more: Oxt(1, 1.15, 1.13,0.92, 1.1, 28.13) = 8.162 and **(1,1.15, 1.13,0.92, 1.1, 28.13) = 8.879 Ox*(0.82, 0.85, 0.83, 0.89, 1.16, 31.9) = 8.28 and (0.82, 0.85, 0.83, 0.89, 116, 31.9) =7.777 0 x1(0.83, 1.03, 1.19,1.05, 1, 31.61) = 10.158 and x*(0.83, 1.03, 1.19, 1.05, 1, 31.61) = 8.788 O x*(0.88, 1, 1.15, 1.18, 1, 27.26) = 9.922 and **(0.88, 1, 1.15, 1.18,1,27.26) = 8.011 A cost-minimizing firm has a CRS production function q= f(x) = A(012" + 02.2", + 032" + 0124 +0523) where i-1 Q; = 1, r = 1 - 1 and o 1.01. When facing with prices w = (1,1,1, 1, 1), the firm uses the input combination x = (8,7,6,8,9) to produce 29 units of output. Calibrate the production function, derive the conditional input demand functions x(w, Q) and the cost function C* (w,Q). What are correct? Numerical results are rounded to the nearest 3-digit. Select one or more: Select one or more: Oxt(1, 1.15, 1.13,0.92, 1.1, 28.13) = 8.162 and **(1,1.15, 1.13,0.92, 1.1, 28.13) = 8.879 Ox*(0.82, 0.85, 0.83, 0.89, 1.16, 31.9) = 8.28 and (0.82, 0.85, 0.83, 0.89, 116, 31.9) =7.777 0 x1(0.83, 1.03, 1.19,1.05, 1, 31.61) = 10.158 and x*(0.83, 1.03, 1.19, 1.05, 1, 31.61) = 8.788 O x*(0.88, 1, 1.15, 1.18, 1, 27.26) = 9.922 and **(0.88, 1, 1.15, 1.18,1,27.26) = 8.011

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