these all 4 questions are related with each other.

Use the following information to answer questions 5-8 The market below shows the market for full-time retail workers, who are earning an equilibrium wage of $1,200 per month without any paid parental leave. Suppose Congress passes a law that requires employers to provide paid parental leave for their full-time workers. Suppose providing this benefit will cost firms S200 per month. Further assume that workers value paid parental leave at $400 per month. $2,000 Wages $1,800 $upply $1,600 $1,400 Wage $1,200 $1,000 $800 $600 Demand $400 $200 SO 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Employment (Number of Workers) 5. What will be the equilibrium wage in this market after the mandated benefit is in place? 6. What will be the equilibrium employment level in this market after the mandated benefit is in place? 7. Taking into account BOTH the change in the market wage and value of the parental leave benefit, how much worse off or better off are workers as a result of the mandate? (Explain your answer) 8. Taking into account BOTH the change in the market wage and cost of providing the parental leave benefit, how much worse off or better off are the firms as a result of the mandate? (Explain your answer)