Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: Lma = 1316-21Wm Lis = 1222-23Ws where L is labor (in number of workers), Wis the wage (in pesos), and the subscripts denote the sector. The economy has 501 workers who are willing and able to work in either sector. Since the number of workers employed must be whole numbers (i.e., they cannot be fractions), round answers for the values of employment to the nearest whole number. Round all other answers to two places after the decimal when necessary. Suppose a union establishes itself in manufacturing and pushes the manufacturing wage to 51.30 pesos. C. Calculate employment in the manufacturing sector. Macmillan Learning Employment in the manufacturing sector: workers In the aftermath of the unionization of manufacturing, all workers who cannot get the highly paid union jobs move to the service sector. d. Calculate the employment and wage in the service sector. Employment in the service sector: workers Wage in the service sector: PesosConsider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: Lm = 1316-21Wm Lis = 1222-23W where L is labor (in number of workers), Wis the wage (in pesos), and the subscripts denote the sector. The economy has 501 workers who are willing and able to work in either sector. Since the number of workers employed must be whole numbers (i.e., they cannot be fractions), round answers for the values of employment to the nearest whole number. Round all other answers to two places after the decimal when necessary. In addition, workers have a reservation wage of 47.30 pesos-that is, rather than taking a job at a wage below 47.30 pesos, they would rather wait for a 51.30 peso union job to open up. Macmillan Learning . Calculate the wage and employment in each sector. What is the economy's unemployment rate? Wage in the manufacturing sector: workers Wage in the service sector: pesos Employment in the manufacturing sector: workers Employment in the service sector workers Unemployment Rate