l. (25) Suppose that we have an economy consisting of two farmers, Cornelius and lWheaten, who unsurprisingly farm corn c and wheat 11:, respectively. Assume that both farmers produce their crop of choice using a single input, land 3, of which there are a total of 7 = 100 acres, with E, : 25 owned by Cornelius and flu, : 75 by Wheaten. However, neither is required to farm only his own land and each may rent a portion to the other, so that if Cornelius is farming EC acres and Wheaten Em, the quantities of each crop produced are given by the production functions gt: : \"flc gm : Em Let 1),. and p1,, denote the priees of corn and wheat, respectively, and let 1' denote the rental price of land. (a) (5) Set up each farmer's prot maximization problem, and nd the rst order conditions. (b) (5) Find the land demand functions for Cornelius Er, pc) and Wheaten Er, pm). (c) (5) Knowing that the supply of land is xed, nd the equilibrium rental price of land in terms of the prices of the crops that it can be used to grow 'r"' (pt, pm]. (d) (5) Find the supply of corn qpc, pm) and wheat qpc, 3910). (e) (5) Find the prots earned by Cornelius 7113003, 331,.) and Wheaten swans, pm)