1. The market demand for labour is given by w = 28-0.03N, where w is the wage rate (S/week) and N is the number of workers the firm want to employ. The market supply of labour is given by w= 10+ 0.01N, where w is the wage rate ($/week) and N is the number of workers who want to work. The firms are in a competitive labour market. a. What is the equilibrium wage rate?(2) b. What is the equilibrium employment?(1) c. If the government introduces the minimum wage rate of $15/hr, what would be the unemployment rate? Show your work. (3)