\fSuppose the production function in medieval Europe is Y = K05 L05 , where K is the amount of land and L is the amount of labour. The economy begins with 100' units of land and 100 units of labour. Answer to each of the following questions. {4 points) How much output does the economy produce? [4 points) What are the wage and the rental price of land? {4 points) What share of output does labour receive? {4 points) If a plague kills half the population, what is the new level of output? {4 points) What are the new wage and rental price of land? [4 points) What share of output does labour receive now? ransom