2 Labor Demand in a Competitive Market (15 points, 5 points each) Consider an economy that produces output with the constant returns to scale production function: f(H, L) = H'? L2 where H is high-education workers and L is low-education workers. 1. Solve for the wage of each group as a function of the number of high- and low-educated workers. You can assume the wage of each type equal their marginal product in production, wy = % for input H and similarly for input L. 2. Derive the wage premium, f{\"f 3. Now, suppose the population of L doubles in size. What happens to the wage pre- mium