Assume that a labor market has the following supply and demand functions: L3=193+1DW LD= 691-5W where W is the wage. Insurance is added as a
Assume that a labor market has the following supply and demand functions: L3=193+1DW LD= 691-5W where W is the wage. Insurance is added as a benet for employees. Employers pay $18 per employee for insurance and the employees value the insurance at $20. What is the equilibrium wage before insurance? ROUND TD TWO DECIMAL PLACES
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