Question: the production function f(x1, (2) = X1 2 1/2 1/3 Envelope 3. [Shephard] Let f : RX - R. be a concave, differentiable production func-

the production function f(x1, (2) = X1 2 1/2 1/3 Envelope 3. [Shephard] Let f : RX - R. be a concave, differentiable production func- tion, and for y > 0 and w > 0, let C(y, w) = minxERn w . x subject to f(x) > y be the cost function. Then D., C(y, w) = x*(y, w)

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