Suppose that the production function is Y = 9K05N05 The capital stack is K = 25 The labor supply curve is NS = 100m 0:012 where w is the real wage rate, t is the tax rate on labor income, and hence (1 t)w is the after-tax real wage rate. (a) (5 marks) Derive the marginal product of labor (MPN). (b) (5 marks) Assume that the tax rate on labor inc0me, t equals zero. Find the equation of the labor demand curve. Calculate the equilibrium levels of the real wage and employment, the level of full-employment output, and the total after-tax wage income of workers. (c) (5 marks) Repeat part (a) under that the assumption that the tax rate on labor income t = 0.6. (d) (5 marks) Suppose that a minimum wage of w = 2 is imposed. If the tax rate on labor income, t = 0, what are the resulting values of employment and the real wage? (e) (5 marks) Does the introduction of the minimum wage increase the total in- come of workers, as a group