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4. (10pts) In a competitive fishing labor market supply and demand of labor is given by QD = 100 - 7w, while the supply looks
4. (10pts) In a competitive fishing labor market supply and demand of labor is given by QD = 100 - 7w, while the supply looks like QS = 30 36w ( Q is the quantity of workers employed and w is the hourly wage). Hint: the wage is the price in this market. (10pts.)
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