1. Suppose the supply curve of physicists is given by w = 10 +E, while the demand curve is given by w = 90 3E. E is the employment level and w is the wage. (15 points) a. Please calculate the equilibrium wage and employment level. (5 points)

b. If the government imposes a minimum wage of 45, what is the new employment level. (5 points)

c. If the government imposes a minimum wage of 25, what is the new employment level. (5 points)