8) (6 points) For any positive values of input prices w1>0 and w2>0, the cost minimizing… 1 answer below »

8) (6 points) For any positive values of input prices w1>0 and w2>0, the cost minimizing input combination to produce an output of y>0 is X1=Y^2 and X2=0. Write a production function for this firm. Also, draw the isoquant corresponding to an output of 3 with the production function you have written