Question 5The economy's MPN is given by MPN=100-N0.5 where N is the level of employment. How much is theaggregate labor demand when the real wage is w 20?12064,000O 640080Question 6The ECON 103 professors have two hundred midterm exams to grade. They offer to hire you to help themgrading, paying you twice the amount you would normally receive (because fow students are willing to workduring the term), You take the job. This would be an example ofthe substitution effect being stronger than the income effect.the income effect being stronger than the substitution effect.the substitution effect being equal to the income effect.a pure income effect.

Economy MPN is given by the following equation:MPN = 100 - N0.5where MPN is the marginal product of…

Answered: Question 5 The economy's MPN is given…

Question 5 The economy's MPN is given by MPN-100-N0.5 where N is the level of employment. How much is the aggregate labor demand when the real wage is w20? 120 64,000 6400 80

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