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distributed systems inspiring minds tutorialoutletdotcom

Distributed Systems Inspiring Minds/tutorialoutletdotcom

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Distributed Systems Inspiring Minds/tutorialoutletdotcom

ECON 6501 Calculate the amount of the surplus or shortage of workers created by the imposition of the minimum wage

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  • 1.     Suppose that the market for labour is a competitive market and can be described by the following demand and supply curves:
  • D = 120,000 – 5,000W
  • S = 5,000W – 60,000
  • Where W = wage rate per hour for labour