Suppose the marginal product of labor is mpn 520 -, Ask an Expert

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Suppose the Marginal Product of Labor is, MPN = 520 - 1.0N, where N is aggregate employment. The aggregate quantity of labor supplied is, NS = 300 + 10w, where w is the real wage.

1.What is the equilibrium real wage?

2.What is the equilibrium level ofemployment?

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