Question: Bridget's Widgets produces widgets with the production function, y=x 1 1/3 x 2 1/3 , where x 1 is the quantity of labor input. x

Bridget's Widgets produces widgets with the production function, y=x 1 1/3 x 2 1/3 , where x 1 is the quantity of labor input. x 2 is the quantity of capital input, and y is the quantity of output. The per-unit price of labor input is w 1 =20 and the per-unit price of capital input is w 2 =80. What is Bridget's long run conditional demand function for labor input, x r . given that both inputs can be varied in the long run? x i =0.5y 3/2 x i =2y 1/2 x i =0.5y 3 x i =2y 3

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