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5. Before the COVID19 outbreak California the 5thlargest economy in the world is in equilibrium with a xed supply of labor. (a) Draw the graphs

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5. Before the COVID19 outbreak California the 5thlargest economy in the world is in equilibrium with a xed supply of labor. (a) Draw the graphs for (i) output as a function of labor, (ii) the marginal product of labor as a function of labor and identify the equilibrium levels of output and the real wage

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