7. Assume that a monopsonist's labor supply niction is w(L) : 2L + ng and the production mction is Q = Y(K?L) = K 2L . That rm is currently using 6 units of capital and selling its product for $6. a) Determine optimal wage, labor, and output. b) Determine the Lerner index and also drive the labor supply elasticity directly. * c) Plot. ' ' d) [Extra Credit] Determine the DWL precisely. Redo a)-d) for production function Q = Y (K,L) = KL2 , 4 units of capital, and a product price of $2