To describe growth after the industrial revolution, consider a manufacturing sector that combines capital KMt and labor LMt to produce a final output good YMt YMt=AMtKMtbMLMt1bM 1) Discuss how the manufacturing production function is different than the agricultural production function in terms of the inputs in the production function, AMt,KMt, and LMt. How do the inputs in the manufacturing sector change over time after the industrial revolution? (5 points) 2) Describe how your answer to part (1) can lead to a breakdown in Malthus's logic. Specifically, why are wages not pinned down at subsistence levels anymore? Make sure your answer refers to the model you worked on in Problem Set 1 . (5 points) To describe growth after the industrial revolution, consider a manufacturing sector that combines capital KMt and labor LMt to produce a final output good YMt YMt=AMtKMtbMLMt1bM 1) Discuss how the manufacturing production function is different than the agricultural production function in terms of the inputs in the production function, AMt,KMt, and LMt. How do the inputs in the manufacturing sector change over time after the industrial revolution? (5 points) 2) Describe how your answer to part (1) can lead to a breakdown in Malthus's logic. Specifically, why are wages not pinned down at subsistence levels anymore? Make sure your answer refers to the model you worked on in Problem Set 1 . (5 points)