Please help with a) b) and e)

2) (14 points + 6 bonus points) Suppose the wage rate is $20 per hour and the rental rate of each unit of capital is $20. The price of output is constant at $80 per unit. Initial capital level is 1 unit. The production function is f(K E) = K14E1/2 a. (2 points) How much labour should the firm employ in the short run? b. (3 points) How much labour should the firm employ in the long run (Hint: MRS = -2K/E)? c. (0 points) Repeat part (a) when the wage rate is $10. NOTE: You don't need to answer this question - the employment is 16 (E = 16) in the short run. d. (0 points) Repeat part (b) when the wage rate is $10. Note: You don't need to answer this question - the long run capital and employment level is K = 16, E = 64. e. (2 points) Find the elasticities of short run and long run labour demand