Refer to the diagram to the right: Land is the other (fixed) factor of production. Currently the real wage is $25. Marginal product of labor, MPL 60 Calculate the change in land rents due to a $5 increase in 55- the real wage. 50- A Land rents = $ - 225 . (Enter your response rounded to 45- the nearest dollar. Be sure to include the minus sign if 40- necessary.) 35. Calculate the change to the total wage bill (total payment Real Wage 30- to labor). Real Wage 25 A Total payment to labor = $ . (Enter your response 20- rounded to the nearest dollar. Be sure to include the minus 15 sign if necessary.) 10- MPL 5- 0 10 20 30 40 50 60 70 80 90 100 11 Labor, L Clear all Check