### Firm Costs and Response to Input Price Changes For a firm facing a constant returns to scale Cobb-Douglas production, derive the total cost function for the firm, Calculate the elasticity of total cost with respect to output for the firm, and illustrate the effect of the increase in the wage on labor utilization

Question 2: Firm Costs and Response to Input Price Changes Suppose a firm faces a constant returns to scale Cobb-Douglas production of the form: 2.1 Derive the total cost function for the firm, and calculate the total cost of producing 10,000 units of the output. 2.2 Calculate the elasticity of total cost with resp