Multiple Choice
Suppose the marginal product of labor is MPN = 200 - 0.5N
Where N is aggregate employment.The aggregate quantity of labor supplied is 300 + 8w,where w is the real wage.If a supply shock increases the marginal product of labor by 10 (to MPN = 210 - 0.5 N) ,by how much does the real wage increase?
A) 1
B) 2
C) 3
D) 4
Correct Answer:
Verified
Correct Answer:
Verified
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