Write down maximization problem of firm

Write down maximization problem of firm

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Reference no: EM13687364

Production function for firm is Ys=ln(Ld)
Utility function is U(Yd, Ld)= Ys+ln(1-Ls)

1) Write down maximization problem of firm and find labor demand curve
2) Write down maximization problem of household and find labor supply curve
3) Write down market clearing conditions
4) Calculate equilibrium employment and real wage
5) If the price is equal to $2, what would be the nominal wage in equilibrium

Reference no: EM13687364

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