My questions have been kicked back several times but do not point out what the specific issues are. Please provide information on how I can improve my question if it is denied. Here is the problem I need help with, there are 2 parts:

Imagine you have been appointed the Chief Economic Advisor to a political campaign in the United

States. Being an interested public policy researcher, you know that the demand for labor is not

very price sensitive (i.e. -0.8) and that the average wage is $ 10.00 per hour. In addition, after

having reviewed the Department of Labor (USDA) statistics, you know that the total labor force is

300 Million with a total amount of unemployment ranging around 10.0% (i.e., 30 Million). Recent

research indicates that the elasticity of labor supply is 0.2. (Hint: For your calculations, please use

300 for 300 Million.)

1. Derive the labor market equilibrium analytically. In addition, explain what the labor demand elasticity (-0.8) implies for the US Labor market? (Hint: Derive the labor demand curve first.

Please keep in mind that the market equilibrium is reached when all the labor

force is employed. The demand function for labor equals Ld = 486 - 21.6W, whereby labor supply

can be written such that Ls = 240 + 6.96W.

2. Please illustrate graphically demand and supply in the US labor market. (Hint: Please use the

concrete numbers. The y-axes