Multiple Choice
In WORKLAND,the marginal product of labour (MPN) is given by MPN = 100 - N,where N is the amount of labour used,and the labour supply by NS = 10 + 5w + 2T,where w is the real wage and T is a lump-sum tax.What is the equilibrium real wage in WORKLAND,if T = 21?
A) 6
B) 10
C) 8
D) 5
Correct Answer:

Verified
Correct Answer:
Verified
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