5. Suppose we have the same group of economies and the same data as in the above problem We'll change onlyr one thing: the production function. Instead of the debit-Douglas function used before, the production function is 1 12 t=(KZ+FL2) where :1 is the productivity of capital and E is the productivity of labor. Note that they are separate, so it is possible for a rm to become better at using capital [if It increases] while not becoming better at using labor [if E stays unchanged] and vice verso. Other than that, this is still just a production function, which describes how rms combine capital and labor to obtain output Everything else in the model is assumed to be the same as before. answer the questions below based on the production model we have studied and the data in the table. Create a table whenever values for each economy are called for. Show each step of your world ensues Give an example of a technology that would affect :1 but not E (or the other way around}. (1 points} Does this production function satisfy constant returns to scale? {1 point) Does this production function satisfy diminishing MPK and MPL? (2 points) What is the demand for labor in this economy (give the exact formula)? {1 point) What is the demand for capital in this economy (give the exact formula]? (1 point] What is the expression for the share of income going to labor?[ Hint: nd the expression for equilibrium wage rate, then compute the \"wage bill" and divide by GDP] (3 points] For each economy, fmd the relative value of pmductivity EFF. [Hint you should use the formula you derived in the previous questions together with the data om the table]. [3 points] For each economy, fmd the values of H and F. [I-Iint: Recall bow TFP was calculated under the \"traditional\" CobbDouglas production function. Can you do something similar here while also using what you have found in the previous question' (2 points] For each of economy, compute the equilibrium wage and rental rates. {4 points) Economy Y K L Wage Bill Rental Bill Meringues 546 121 45 109.2 436.8 Hammers 1,245 378.6 236 1120.5 124.5 Bayern 149.8 45 S 35.952 113.848 Vecchia Segniora 34,560 2345.7 1340 20736 13824 Bafana Bafana 781.4 98.6 23 312.56 468.84