oints) Minimum wage in Urban Labor MarketsSuppose the labor markets for Baris- in San-Fransisco (SF) & Oakland (OAK) are perfectly competitive (we will relax this later). ply and demand in SF are parameterized by: Demand : Wa* = 30 -3* Qq Supply : WSF = 3 + 6* Q5F Oakland, labor supply and demand are given by: Demand : WAK = 23 - 6 * QOAK Supply : WOAK = 1 + 5*QOAK Carefully graph each cities labor market. Be sure to indicate which graph represents which labor market. Label all intercepts. (1 point) Compute the equilibrium in each city. (You must provide wages and quantities in each city.) (1 point)