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Q3. Consider the model of supply and demand diagram below that shows a labor market with a binding legal minimum wage above the market equilibrium
Q3. Consider the model of supply and demand diagram below that shows a labor market with a binding legal minimum wage above the market equilibrium level. Use the diagram to show those who are helped by the minimum wage and those who are hurt by the minimum wage. Your textbook has a good explanation of this also that you can refer to. Please explain your answer completely. ` wage LA Minimum wage w1 D q2 quantity
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