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October 1, 2014

Homework Help: economics

Posted by Ricky on Friday, January 27, 2012 at 11:09am.

Suppose that the free market labour supply and labour demand equations are given by
Qs = 5W and Qd = 30 - 5W. If the minimum wage were set at $2.50 an hour, how many
people would not be able to find work?

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