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need help with this problem Consider the following labor supply and demand curves. For each of the following situations, show and explain what would happen
need help with this problem
Consider the following labor supply and demand curves. For each of the following situations, show and explain what would happen to the labor market. a) The firms who are employing these workers experience a big decrease in the demand for their product Wage wit D Quantity b) Congress passes a law increasing the mandatory retirement age to 70 years old. a Wage wit D BE Quantity c) A newly elected US president issues an executive order implementing an immigration quota severely limiting immigration. Wage WIE Quantity d) The NJ State legislature passes a law, and the governor signs it, to increase the minimum wage in the state. Wage W. X D Quantity c) The firm finds a new market for their output. Wage w X D Quantity Step by Step Solution
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