Question 2: Suppose that Manny, Jack, and Moe can hire workers for $12 per hour, or can rent capital for $7 per hour. Use negative signs where appropriate and round your answer to the nearest one-hundredth place (0.01). Do not enter fractions or dollar signs into your answers. Part b: If Manny, Jack, and Moe wish to hold their costs to $100, use your answer from part (a) to find the equation for their isocost line (write it as K as a function of L ). Question 7 1 pts Part c: Suppose that bargaining with the local labor union raises wages. Manny, Jack, and Moe must now pay $14 per hour. What is the new isocost line corresponding to $100 of expenditure? K= Question 8 1pts As a result of the change in part (c), would you expect the firm to increase their use of labor or capital