Question: Please answer the following numerical problem. Please provide formulas and explanations. 4. The marginal product of labor (measured in units of output) for a certain

Please answer the following numerical problem. Please provide formulas and explanations.

4. The marginal product of labor (measured in units of output) for a certain firm is MPN = A(100 - N), where A measures productivity and N is the number of labor hours used in production. The price of output is $2.00 per unit. a. If A = 1.0, what will be the demand for labor if the nominal wage is $10? If it is $20? Graph the demand curve for labor. What is the equilibrium real wage if the supply of labor is fixed at 95? b. Repeat part (a) for A = 2.0

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