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Price FloorsAn Efciency Analysis Exercise 2 The table below shows the market for labor for introductory positions in a large city. Quantity of Quantity of

Price FloorsAn Efciency Analysis Exercise 2 The table below shows the market for labor for introductory positions in a large city. Quantity of Quantity of Hourly Wage Labor Labor (dollars) Demanded Supplied (Hour (Hours J Market for Labor Price (dollars) 20 Tools 1 8 .5- PF 16 DWL 14 12 10 \"-50 O 10 20 3D 4D 50 60 70 80 90100 Quantity Using the graph above, shade in the deadweight loss when a price oor of $17 is imposed in the market for labor, and then show and calculate the amount ofthe deadweight loss. Instructions: Use the tool provided \"DWL\" to illustrate this area on the graph. Deadweight loss: $ |:|

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