Consider a simple demand-and-supply model of a competitive labour market in a small town. The demand and supply curves for labour are given by Demand: w = 18 3LP Supply: w = 3 + 2L where w is the wage ($ per hour) and L is the number of hours of employment (measured in thousands of hours per month). a. Plot the demand and supply curves to scale. b. Solve for the equilibrium level of w and L in the case of no government intervention. c. Now suppose that the town council imposes a min- imum wage equal to $10 per hour. What is the new level of employment? d. Identify in your diagram the area that is the dead- weight loss. Compute its size, measured in thou- sands of dollars per month