The rm's marginal product of labour is given by MPN = 10 0.02N, where N is the number of workers employed by the rm. The rm is a perfect competitor in the output market. 1. If the rm's product sells at price P = $10 per unit, how many workers would the rm employ at the market wage rate w = $12? Show your work. (2) 2. If the rm's product sells at price P = $10 per unit, how many workers would the rm employ at the market wage rate w = $13? (1) 3. Use your answers to parts (a) and (b) above to calculate the (arc) wage rate elasticity of demand for labour (if the nn's product sells at price P = $10 per unit). (2) 4. If the rm's product price increases to P = $12 per unit, how many workers would the rm employ at the market wage rate w = $12? (2) 5. Write down an equation for the demand for labour by the rm (in form of N as function of w) when the rm's product sells at price P = $10 per unit. (1)