Q2 (20 points) Suppose that the production function is Y : ALO'F'. Let w be the wage rate. (a) (5 points) What is the rm's labor demand function? (b) (5 points) Suppose that total factor productivity fl : 100 and household labor supply is L500) : 2.5 - w (the \"5\" is not an exponent, L5 is the labor supply). What is the equilibrium wage rate? At the equilibrium, how much labor is used in production and how big is output? (Hint: to nd the equilibrium, set labor demand equal to labor supply and nd the wage, w.)