3) Suppose in a purely competitive product market, price is $10. If a rm's production function is given as Q = f(L, K) = L0'4K0'6. a) Calculate rm's labor demand curve. b) Calculate rm's capital demand curve. 4) A rm believes the elasticity of demand it faces is -1.25 (non-competitive market). Based on its cost function, it is charging a product price of $10. If a firm's production function is given as Q = f(L,K) = L0'2K0'8. a) Calculate rm's labor demand curve. b) Calculate firm's capital demand curve