The cost-Minimization problem e Consider a firm using two inputs to make one output The production function is y f(xi x2) ◆ Take the output level y≥0 as glven 4 Given the input prices W, and w2, the cost of an input bundle(x1, x2)is W1X1+ W2X2The Cost-Minimization Problem uConsider a firm using two inputs to make one output. uThe production function is y = f(x1 ,x2 ). uTake the output level y ³ 0 as given. uGiven the input prices w1 and w2 , the cost of an input bundle (x1 ,x2 ) is w1x1 + w2x2