Us Fol Pric g) ( 10 points) In the space below, draw two supply curves - redraw the supply curve PCI from part c) above (with points A and B) and then add the new supply curve when wages are $120. Be sure to put all the shift variables in parentheses next to the two supply Ple curves (like we did in class). Please label as point C when the price is $10 and as point D when the price is $12. 10 points for correct and completely labeled diagram h) The final shock is a productivity shock in the happy direction where the marginal product of labor, the MPN, rises by 2 for EACH worker (we did this in class!). We go back to original conditions with wages (W) = $100. Please fill in the following Table (10 points). 12TABLE 3 (Note: W = $100) N Y MPN MRPN Marginal Profit 0 Total Profit P = P = P = $10 $10 $12 P = $12 P = $10 P = $12 20 2 122 3 4 i) (5 points) How many workers will you hire and what is your maximum profit in nominal terms when the price of your output is $10? In real terms? Note, this is when the wage is $100. j) (5 points) How many workers will you hire and what is your maximum profit in nominal terms when the price of the output is $12? In real terms? Note, this is when the wage is $100. 13 14