Question: Suppose Widget Corp. has the production function = ()/( + ) (a) Assuming this firm is a price-taker, find its cost function. (b) If every

Suppose Widget Corp. has the production function = ()/( + )

(a) Assuming this firm is a price-taker, find its cost function.

(b) If every firm in the widget industry has this same production function and behaves as a price-taker, and the factor prices are = 4, = 9, what will be the long run supply curve of widgets?

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