Here are listed the supply and demand schedule for labor hours in France. Thiscountry has severalrestrictive laws & strikes!

WageQuantity SuppliedQuantity Demanded

1030005000

1235004000

1438003800

1640003500

1850003000

(i)Identify new equilibrium price and quantity if a minimum wage law is enacted forWage =12 euros an hour.

(ii)Identify new equilibrium price and quantity if a minimum wage law is enacted for Wage = 16 euros an hour.

ivSuppose that there is a labor trade union that wants to maximize the revenues of all workers. Which wage and quantity of labor hours supplied should the trade union propose?

What happens to the market wage if the trade union restricts the supplyof labor hours to3000?

What would happen if the government grants a subsidy equal to 4 to the companies per labor hour?