For this question, assume that the rm has a production function given by 1 3 2 3 f(zl,22) = 321/ 32/ Answer the following: Write your answers to 3 decimal places. a) Calculate the TRS between input 1 and input 2. Evaluate it at 21 = Z2 2 35. -D.E X One possible correct answer is: 0.50 b) Using the expression for the TRS you found in a) (not its value), apply FCC to nd the conditional input demand functions for input 1 and 2. What is the conditional input demand for input 2 when 101 28,1122 2 8,q= 19? 6.1 8 One possible correct answer is: 7.98 c) Using the expression forthe conditional input demand functions for input 1 and 2 you found in b), find the expression for the cost function C(w1,w2,q). What is the value of the cost function at 101 = 12,102 = 7, q = 28? 52. x One possible correct answer is: 147.77 d) Suppose the rm faces some legal constraints of the total output it can produce. Namely, the rm can only produce q E [0, 492]. But its technology, and therefore its cost function, is not affected by this legal restriction. Using the expression for the cost function you found in c), nd the maximal output level legally produced at which the average cost and the marginal cost are equaHsed. 20! at One possible correct answer is: 492.00