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1.Minimum Wage (5 points) a.Draw a minimum wage graph where the equilibrium wage is $12.00/hour and the equilibrium quantity is 4,000 workers b.Draw in a

1.Minimum Wage (5 points)

a.Draw a minimum wage graph where the equilibrium wage is $12.00/hour and the equilibrium quantity is 4,000 workers

b.Draw in a minimum wage (price floor) at $15/hour . What situaton would occur in this circumstance?

c.What are the pros and cons of minimum wage?

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