Question: PLEASE PROVIDE FULL STEPS AND ANSWERS FOR PART C 02$ {B points} A firm produces its output using the following production function: _ 1 xhxz)

PLEASE PROVIDE FULL STEPS AND ANSWERS FOR PART C

02$ {B points} A firm produces its output using the following production function: _ 1 xhxz) = x.' x; where M is the amount of input 1 and x; is the amount of input 2. [a] Find the conditional input demand function for inputs 'I and 2, as well as the cost function for this firm. 02b {3 points} {b} What is the firm's marginal cost when it is producing y units of output? 02.: [9 points] Imagine that the price of input 1 is $15 per unit, the price of input 2 is $25 per unit, and the rm has fixed costs of $ED. The firm is in a competitive market where the market price is $24G per unit of output. How much should the rm produce? How much profit does the firm make

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