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3.1 Using a diagram, explain and illustrate the economic impact of this increase of 5.2% in the minimum wage rate on the Australian labour market.

3.1 Using a diagram, explain and illustrate the economic impact of this increase of 5.2% in the minimum wage rate on the Australian labour market. (Note: Your group must draw a diagram that shows the economic impact of this rate increase on the demand and supply curves of labour in Australia)

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