This production function produces output as the minimum of 2x or 4y, given inputs x and y are greater than or equal to 0. To minimize cost in producing an output level q, the combination of inputs x and y must be determined given the input prices wx and wy.

1. Consider the following production function: f(x,y)=min{2x,4y}; for all x,y0. If the input prices of x
and y are wx and wy respectively, then find out the combination of x and y that minimizes cost in
order to produce output level q.