2. (15 marks in total) Suppose a firm's marginal product of labour is given by MPN = 244 N, where N is the number of labour used in production. The amount of labour supplied by workers, NS, is given by NS = 226 + 4(1 t)w, where w is the real wage and is the tax rate on labour income. The government sets the minimum wage to be w" =5, (a) (5 marks) Originally, = 0.5. Calculate the equilibrium levels of real wage and employment. (b) (5 marks) Supposc now that the government decides to lower the tax rate on labour income to t = 0.25. Calculate the levels of real wage and employment in this casc