b) Consider a market economy with labor mobility so that wages are equalized across the two sectors. Let P. P represent output prices and Wthewagerate Labor demand in each sector comes from profitmaximizinghich entails equating the marginal value product of labor to the wage: i Given output prices, show graphicallyyowtheequilibriumwagerateandtheallocationflabor between the two sectors is determined. ii Usingtheproductionfunctionsshowmathematically howtheequilibriumwagerateandthe supplycurveforeachgood(C, F) is determine(as a functionf outputprices. Also discuss how the returns to land and capital are determined. iii Using your result in part ii, givenoutpu pricesshowhowanincreasen theamountf capital (K) available for production affects: (1) the quantity supplied of each good; (2) the real return to capital(3)therealreturnto land and(4)therealwagerate iv Givenoutpupricesshowhowanincreasen foodproductivity @") affects the supply (output) of eachgoodandtherealreturnto eachinput v Given output prices, what happens to the supply of each good, and the real return to each factor, if productivity in both sectors (i.e., ) andO) doubles