Question: Please solve the questions step by step Because i donot have experiance how to solve it very well Please no hint Please typed 1. (30

Please solve the questions step by step

Because i donot have experiance how to solve it very well

Please no hint

Please typed

Please solve the questions step by step Because i donot have experiance

1. (30 points) A firm with the production function y=3x122x1x2+3x22 minimizes costs given by the formula C=3x1+x2 subject to the fixed output y and non-negativity constraints on the quantities of the employed amounts of factors x1,x2. a) Set the minimization problem and form the Lagrangian in the Kuhn-Tucker formulation; b) Derive first-order K-T conditions, c) Solve this system and use relevant reference to the theory justifying your answer. 1. (30 points) A firm with the production function y=3x122x1x2+3x22 minimizes costs given by the formula C=3x1+x2 subject to the fixed output y and non-negativity constraints on the quantities of the employed amounts of factors x1,x2. a) Set the minimization problem and form the Lagrangian in the Kuhn-Tucker formulation; b) Derive first-order K-T conditions, c) Solve this system and use relevant reference to the theory justifying your

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