11'ie following equations characterize a country's closed eoonomy: - Production function: v = A-K-N Nxz I Marginal product of labor: MPH = A-K N. - where the initial values of A = 5'" and K = '9. n The initial labor supply curve is given as: N5 = 31 + 9w. a} {10 points] Find the equilibrium levels of the real wage. employment and output ishow work}. Draw two diagrams vertically with the labor market on the bottom graph and the production function on the top graph. Be sure to label everything including these initial equilibrium points as point A. ll points for compieteiy labeled and correct diagramsi