Question: for the economy of lower volta the mpn is given...
For the economy of Lower Volta, the MPN is given by MPN = 400 - 0.2N where N is aggregate employment. The aggregate quantity of labour supplied is 500 + 10(1 - t)w where t is the income tax rate and w is the real wage. Assume that the income tax rate is 50%. What is the before-tax real wage?
please provide detail explanation.