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Suppose that in a competitive labor market the equilibrium wage is $8 per hour, and the equilibrium quantity of hours worked is 80,000. a. If the government passes a minimum wage of $9 per hour, there will be excess of labor. This policy creates a price b. Click on the DWL (deadweight loss) button in the graph below to place the triangle in the area representing the deadweight loss when the government passes a minimum wage of $9 per hour. Market for Low-Skilled Labor 14 13 Supply DWL 12 11 10 Wage ($/hour) Demand NwAU O 0 20 40 60 100 120 14013 Supply DWL Wage ($/hour) Demand O 20 40 60 80 100 120 140 Quantity of Labor (thousands of hours) c. Calculate the deadweight loss from a government mandated $9 per hour wage. Pay close attention to the scale of the quantity axis! DWL: $