Find the firms cost minimizing conditional factor demands

Question

Problem

A firm has a production function:

y = f(x₁,x₂) = (2x₁^1/2 + x₂^1/2)²

a) Let w₁ and w₂ represent the prices of inputs 1 and 2 respectively. Find the firm's cost minimizing conditional factor demands.

b) If w₁=2 and w₂ = 1, what is the firm's cost function, c(y)?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.