8. The demand and supply curves that we use can also be represented with equations. Suppose that...

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8. The demand and supply curves that we use can also be represented with equations. Suppose that the demand for low-skill labor, QD, is represented by the following equation, where W is the wage rate:

QD = 53,000,000 - 3,000,000W The supply of low-skill labor, QS, is represented by the equation

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Principles Of Microeconomics

ISBN: 9780393935769

1st Edition

Authors: Dirk Mateer, Lee Coppock

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