$MPN=4\mathrm{.}5\frac{K^{0\mathrm{.}5}}{N^{0\mathrm{.}5}}.$

The labor supply curve $isNS=115[(1-t)w{]}^2,$ where $wis$ the real wage rate, $tis$ the tax rate $on$ labor income, and hence $(1-t)wis$ the after$-$tax

real wage rate.

The capital stock $isK=25.$

Assume that the tax rate $on$ labor income, $t,$ equals zero.

Which $of$ the following equations represents the labor demand curve?

$A.ND=\frac{506\mathrm{.}25}{w^2}$

$B.ND=\frac{45}{N^{0\mathrm{.}5}}$

$C.ND=125N^{0\mathrm{.}5}$

$D.ND=\frac{112\mathrm{.}5}{w^2}$

$E.ND=\frac{125}{w}$

The equilibrium level $of$ the real wage $is1\mathrm{.}45(Round$ your answer $to$ two decimal places$).$

The equilibrium level $of$ employment $is241\mathrm{.}8(Round$ your answer $to$ one decimal place$).$

Total after$-$tax wage income $of$ workers $is$ $$350\mathrm{.}61(Round$ your answer $to$ two decimal places$).$ With this production function, the marginal product $of$ labor $isMPN=4\mathrm{.}5\frac{K^{0\mathrm{.}5}}{N^{0\mathrm{.}5}}.$

The labor supply curve $isNS=95[(1-t)w{]}^2,$ where $wis$ the real wage rate, $tis$ the tax rate $on$ labor income, and hence $(1-t)wis$ the after$-$tax real

wage rate.

The capital stock $isK=25.$

Assume that the tax rate $on$ labor income, $t,$ equals zero.

Which $of$ the following equations represents the labor demand curve?

$A.ND=\frac{506\mathrm{.}25}{w^2}$

$B.ND=125N^{0\mathrm{.}5}$

$C.ND=\frac{45}{N^{0\mathrm{.}5}}$

$D.ND=\frac{125}{w}$

$E.,ND=\frac{112\mathrm{.}5}{w^2}$

The equilibrium level $of$ the real wage $is(Round$ your answer $to$ two decimal places$).$

$hi$ please can you solve for problem $5$ a and $6$ a and analytical problem $5$ thank you

Suppose the government levies a lump$-$sum tax $on$ individuals. Which $of$ the following best explains the effect $on$ the supply $of$ labor?

$A.$ A lump$-$sum tax has only a substitution effect, $so$ increasing the tax will cause the supply $of$ labor $to$ increase.

$B.$ A lump$-$sum tax has only a substitution effect, $so$ increasing the tax will cause the supply $of$ labor $to$ decrease.

$C.$ A lump$-$sum tax has both income and substitution effects, $so$ the overall effect $on$ the supply $of$ labor $is$ uncertain.

$D.$ A lump$-$sum tax has only $an$ income effect, $so$ increasing the tax will cause the supply $of$ labor $to$ decrease.

$E.$ A lump$-$sum tax has only $an$ income effect, $so$ increasing the tax will cause the supply $of$ labor $to$ increase.

Consider $an$ economy $in$ which the marginal product $of$ labor, $MPN,is$:

$MPN=500-4N,$ where $Nis$ the amount $of$ labor used.

The amount $of$ labor supplied, $NS,is$ given $by$:

$NS=20+16w+1T,$ where $wis$ the real wage, and $Tis$ a lump$-$sum tax levied $on$ individuals.

Suppose that $T=29.$

The equilibrium value $of$ employment $is.(Round$ your answer $to$ two decimal places.$)Suppose$ that under a new law all businesses must pay a tax equal $to6\%of$ their

sales revenue. Assume that this tax $is$ not passed $onto$ consumers. Instead,

consumers pay the same prices after the tax $is$ imposed $as$ they did before.

$1.$