In WORKLAND,the Marginal Product of Labour (MPN)is Given by MPN

question 73

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

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Definitions:

Work Context

The conditions, environment, and factors that impact the nature of work, including physical, social, and organizational aspects.

Powerful Incentives

Strong motivations or rewards that drive individuals or groups to perform or behave in desired ways.

Employment Relationships

The interactions and dynamics between employers and employees, governed by a complex set of laws, regulations, and mutual agreements.

Generation-X

A demographic cohort following the baby boomers, typically considered to include individuals born from the early 1960s to the early 1980s, known for its unique cultural and social influences.