8. Three worker-consumers selling their labour services in a labour market have individual supply functions: N1 = −30 + 4W N2 = −5 + 1W N3 = −10 + .5W Which worker-consumer, 1, 2, or 3, has the highest and which has the lowest reservation wage? What is the equation of the market labour supply curve? Suppose the market labour demand curve is given by ND = 220 −.5W . 2 Find the equilibrium values N∗and W ∗. Show this equilibrium graphically in W/N space.

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