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?
Definitions:
Employee Empowerment Unionism
An approach to unionism emphasizing the enhancement of workers' control over their work environment and decision-making processes.
Servicing Model
A model of union activity that emphasizes providing services to members, such as negotiating contracts and addressing grievances, rather than focusing on broader social or political change.
Economic Exchange
The act of trading goods, services, or both between two or more parties, forming the basis of most economic systems.
European Social Partnerships
Collaborations between governments, employers' organizations, and trade unions in Europe to discuss and negotiate employment policies and working conditions.
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