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4 If a minimum wage is set at 5 an hour, how many hours of teenage labour...

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4 If a minimum wage is set at £5 an hour, how many hours of teenage labour are employed and unemployed?

The table gives data on the market for teenage labour.

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Quantity Wage rate (pounds per hour) 4 Quantity demanded supplied (hours per month) 3,000 1,000 55 69 2,500 1,500 2,000 2,000 1,500 2,500 8 1,000 3,000

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