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12) Refer to the diagram below, which represents a local labor market consisting of two submarkets. All workers are assumed to be identical. SB Wage

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12) Refer to the diagram below, which represents a local labor market consisting of two submarkets. All workers are assumed to be identical. SB Wage Wage SA 12 10 DA DB Labor Labor Market A Market B Assume that information is perfect, mobility between jobs is costless, and that all nonwage aspects of the two are identical. Using these graphs illustrate and discuss how wage rates should be expected to adjust in each market

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