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1. Suppose the supply curve of physicists is given by w(t) = 100+0.1Q (t+1), while the demand curve is given by w(t) = 250-0.20 (t).
1. Suppose the supply curve of physicists is given by w(t) = 100+0.1Q (t+1), while the demand curve is given by w(t) = 250-0.20 (t). Justify whether or not the equilibrium time path of wages and employment will converge to a new equilibrium if the demand for physicists exogenously increases
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