2. The marginal product of a worker in a flashlight factory equals 30 N flashlights per...

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2. The marginal product of a worker in a flashlight factory equals 30 – N flashlights per hour, where N is the total number of workers employed. Flashlights sell for $2 each, and there are no costs to producing them other than labour costs. LO 5.2 HARD a)The going hourly wage for factory workers is $20 per hour. How many workers should the factory manager hire? What if the wage were $30 per hour? b)Graph the factory’s demand for labour. c)Repeat part (b) for the case in which flashlights sell for $3 each. d)Suppose the supply of factory workers in the town in which the flashlight factory is located is 20 workers (i.e. the labour supply curve is vertical at 20 workers). What will be the equilibrium real wage for factory workers in the town if flashlights sell for $2 each? If they sell for $3 each?

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