Some countries have introduced workweek restrictions, which we model as the re- quirement N g N. Consider a static model where the representative agent has preferences: (h - 02 2 ) where a > 0 is a constant. A representative rm has the production function: u(c,l)=ca Y = F(K,N) = KO'N1_\" and suppose capital is xed at K = 1. (a) Find the equilibrium levels of employment, wages, and output in the absence of the workweek restriction. (b) Suppose that the workweek restriction is binding, so N is strictly less than the equilibrium employment level you found in part (a). How does this restriction affect output and wages? Will it lead to unemployment, that is, an excess supply of workers who are willing to work at the (new) equilibrium wage but cannot nd jobs