2. (30 points) Suppose the marginal product of labor in the economy is given by M P N = 0.002(16, 000 - N ), while the supply of labor is N S = 1000 + 1000w. a. Sketch a diagram of this labor market. b. Find the market-clearing real wage rate and level of employment. c. Find the equilibrium wage rate and employment if wealth rises, reducing the supply of labor to NS = 500+1000w? d. Find the equilibrium wage rate and employment if after wealth has risen as in part (b), there is a productivity shock that increases the marginal product of labor to M P N = 0.0025(16, 000 - N )