Question: Question 1 Consider a production function q = 231'42?'4 23/4 process. Let w E IRE. denote the vector of input prices and p > 0

Question 1 Consider a production function q = 231'42?'4 23/4 process. Let w E IRE. denote the vector of input prices and p > 0 the output price. Determine for each output level q > 0 the cost function C(W; q) and the conditional factor demand 2(w; q) (Hint Solve the cost minimization problem). Where 21, 22 Z 0 denote inputs in the production

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