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i) Find the equilibrium 'market' clearing wage and level of employment. Please show all work below. W employment =Consider an economy with the following characteristics:

i) Find the equilibrium 'market' clearing wage and level of employment. Please show all work below. W employment =Consider an economy with the following characteristics: MPN = 700 - 2N NS = 22 + 14w + 3T where w is the real wage, and T is a lump-sum tax levied on individuals. Suppose that initially T = 32.Suppose now that there is a new marginal product of labor equals MPN = 816 - 2N

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