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Part 1: Supply, Demand, and the Labor Market Jues Wage Using the graph to the right, draw a typically- shapedsupmyanddenmndforhbonThen,add in a binding minimum wage.

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Part 1: Supply, Demand, and the Labor Market Jues Wage Using the graph to the right, draw a typically- shapedsupmyanddenmndforhbonThen,add in a binding minimum wage. Label the equilibria before and after the minimum wage is implemented. Include the initial equilibrium wage (w") and quantity of labor (L"), the new equilibrium wage (w'), the new quantity of labor demanded (Lp), and the new quantity of labor supplied (Lg). Labor

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