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A firm produces a single output using two inputs x1, x2. Let p, w1, w2 be...

  1. A firm produces a single output using two inputs x1, x2. Let p, w1, w2 be the prices. The production function f is C2 (twice continuously differentiable). Atp=5,w1 =1,w2 =2,theoptimalinputsarex∗1 =2,x∗2 =2. Ifεx1p =0.2 (the elasticity of x1 w.r.t. p), εx1w1 = −0.4 (the elasticity of x1 w.r.t. w1), and εx2 w2 = −0.5 (the elasticity of x2 w.r.t. w2 ), then, can you derive εx1 w2 , εx2 p and εx2w1? If so, please find them

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