+ a) (10 points) Fill in the Table below. Number of Units of output Real Marginal workers Prot 40 75 MJG'NLh-lh-UJMrID 175 l; b) (5 points) Suppose that the nominal wage you pay each worker is $300 and that the price of your output is $12. How many workers will you hire and what would be your real prot\"? Note that if you break even on the worker, you will hire them! Also, just like the in-class example, you can hire all the workers you want at the wage = $300. In the space below, draw a graph with the production mction on top and the real labor market below, in real space, not nominal space, locating the prot maximizing point as point A. Also, be sure to shade in the real prots, just like we did in class. (20 points for correct and completely labeled diagram. Now suppose there is a technical irmovation, an increase in total factor productivity so that the MPN for each worker goes up by 10. In addition, at the same time, tight labor markets force you to pay each worker $360. The price of your output stays constant at $ 12. c) Fill in the Table below (10 points) Number of Units of output NIPN Real Marginal Real Prot workers Prot 0 1 40 3 105 4 5 6 7" d)(5 points) How many workers will you hire now and what is your real prots? Add these new conditions to your production function and labor market and label as point B. Make sure you label your graph completely. e)(5 points) Is your rm better off? Why or why not? f)(5 points) Are workers better off? Name two reasons. g)(5 points) What has happened to personal income tax revenue for the government? What has happened corporate tax revenue for the government? Explain. h)(5 points) What were nominal prots before the change in productivityfwages and what are nominal prots now