Assume that the labour demand equation for a fictional country isL_d= 30 -w, wherewis the wage per hour worked. Also, assume that the labour supply equation for that country isL_s= 0.5(w).

Instructions:Round your answers to the nearest whole number.

a. The equilibrium wage is ______, and the equilibrium quantity of labour employed is________ workers.

b. At the equilibrium wage,________ people are unemployed.

c. If the supply of workers increased, the number of unemployed would:

• increase.
• stay the same as long as the wage is free to quickly adjust.
• decrease.