Continue to assume that no other outside influences on the economy of Hawkland occur. Return to the graphs that you drew and show the economy of Hawkland in the long run. Label any relevant new curves with a two subscript (2) and use a two in a circle (k) to label the long run equilibrium. Answer the following questions regarding the the long run. Answers that say "increases" or "decreases" or similar without any further explanation will not receive credit. I do not need lengthy answers, but I need enough to demonstrate that you understand how the model works. Requried:
a. What happens to the money wage and why? Explain and provide a numerical example.
b. What happens to the price level and real GDP? Explain.
c. What happens to the real wage? Explain and show your calculation. Explain and provide a numerical answer.
d. What happens to the unemployment rate? Explain and provide a numerical answer.

Consider the local telephone company, a natural monopoly. the following graph shows the monthly demand curve for phone services and the company’s marginal revenue (mr), marginal cost (mc), and average total cost (atc) curves. 0 2 4 6 8 10 12 14 16 18 20 100 90 80 70 60 50 40 30 20 10 0 price (dollars per subscription) quantity (thousands of subscriptions) d mr mc atc 8, 60 suppose that the government has decided not to regulate this industry, and the firm is free to maximize profits, without constraints. complete the first row of the following table. pricing mechanism short run long-run decision quantity price profit (subscriptions) (dollars per subscription) profit maximization marginal-cost pricing average-cost pricing suppose that the government forces the monopolist to set the price equal to marginal cost. complete the second row of the previous table. suppose that the government forces the monopolist to set the price equal to average total cost. complete the third row of the previous table. under average-cost pricing, the government will raise the price of output whenever a firm’s costs increase, and lower the price whenever a firm’s costs decrease. over time, under the average-cost pricing policy, what will the local telephone company most likely do

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand

Which of the following is an example of search costs? a.) driving to a faraway place to find available goods b.) buying goods in some special way that is outside the normal channels c.) paying a premium cost for goods d.) selling extra goods for a discount price