1. Business
  2. Economics
  3. given an economy with a mpn 100125n and a...

Question: given an economy with a mpn 100125n and a...

Question details

Given an economy with a MPN = 100-(.125)N, and a labor supply of NS=40+30w, where w is the real wage, what:

a) would be the quantity of (whole) laborers demanded if w=37?

b) is the equilibrium w?

c) is the equilibrium quantity of labor?

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution