Question 1 A rm has the production function ne=mmw1 where E is employment. The rm operates in a market with labor supply surve E = 1011:. The rm acts as a price taker in the product market where the price of its output is p = 2. 1. Find the rm's value of marginal product (VMPE) curve. 2. Suppose the rm acts as a wage taker in the labor market. Find the equilibrium wage and employment level, and worker surplus. 3. Suppose the rm acts as a monopsonist in the labor market. Find its marginal cost of employment (MCE), and the new employment level, wage, and worker surplus. 4. Suppose the government imposes a minimum wage of w = 2 on the monopsonist from part 3. Find the new employment level and worker surplus. Did employment increase or decrease relative to part 3? Why