Problems 1, 2, 3 1. Suppose that a firm's labor supply curve is E = 5W, where W is the hourly wage. a. Solve for the hourly wage that must be paid to attract a given number of workers (E) to the firm. b. Express the total hourly labor cost associated with any given level of employment. c. Express the marginal expense of labor (ME ) incurred when an employer hires an additional worker. 2. Assume that the labor supply curve to a firm is the one given in problem 1. If the firm's marginal revenue product (MRPL) = 240 - 2E, what is the profit-maximizing level of employment (E*), and what is the wage level (W*) that the firm would have to pay to obtain E* workers? 3. A firm is considering hiring a worker and providing the worker with general training. The training costs $1,000, and the worker's MRP, during the training period is $3,000. If the worker can costlessly move to another employer in the post-training period and that employer will pay a wage equaling the new MRP , how much will the training firm pay the worker in the training period