Nautica’s economy, described in problems 2 and 4, experiences a surge in its population. The supply.

Nautica’s economy, described in problems 2 and 4, experiences a surge in its population. The supply of labour increases and 50 per cent more hours are supplied at each real wage rate. aMake a table that shows Nautica’s new supply of labour schedule. bFind the new full-employment equilibrium real wage rate and quantity of labour in Nautica’s economy. c Find Nautica’s new potential GDP. dExplain and interpret the results you have obtained in parts (a), (b) and (c).

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