Suppose that you are a Classical Economist and you are given the following information about Economy X. (25)

Velocity of Money is 0.5

Total Money supply $1000

There is a positive linear relationship between labor and output such that one unit of labor produces 10 units of output. (We don't need K)

There is another positive linear relationship between labor supply and real wage that looks like: (Ns ) = 0.2W/P.

Solve for the equilibrium in this economy X, i.e, find values for (P,Y) and (N,W).