you are to assume that the wage offer distribution facing searchers is uniform, with upper bound 20 and lower bound 0 (ie all wages offers between 0 and 20 are equally likely). Assume that the discount factor, is equal to 0.8, and that the probability of receiving an offer in any period of unemployment is = 0.5. Finally, assume that the utility in any period spent unemployed, u0, is 0. Now suppose that in each period an employed person has a 1% chance of losing their job, meaning =0.01 (a) What wage offers are accepted? In other words, what is the reservation wage? (b) What is the unemployment rate in the long run?(c) What is the average accepted wage? 1