Suppose the marginal product of labor is , where Y is 12, and L is the quantity of workers. The supply of labor is given by L = 110 + 2.5 ∗ w. If the real wage is 50, what is the unemployment rate?

Question

Suppose the marginal product of labor is  , where Y is 12, and L is the quantity of workers. The supply of labor is given by L = 110 + 2.5 ∗ w. If the real wage is 50, what is the unemployment rate?

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The Answer of Suppose the marginal product of labor is  , where Y is 12, and L is the quantity of workers. The supply of labor is given by L = 110 + 2.5 ∗ w. If the real wage is 50, what is the unemployment rate?

Suppose the Marginal Product of Labor Is , Where