Question 2: Labor market
Consider the market for workers in Caf Alice in New Jersey.
The caf's labor supply and labor demand equations are the following:
Labor demand	Ld = 40 - 2*w
Labor supply	Ls = 4*w - 32
In these equations, w is the hourly wage, and Ld and Ls are in number of workers.
a) Complete the following table to find the quantity of labor demanded (Ld) and the quantity of labor supplied (Ls) at hourly wage rates of $8, $9, ..., $20.
Use formulas in Excel to calculate Ld and Ls.
	w	Ld	Ls
	$8
	$9
	$10
	$11
	$12
	$13
	$14
	$15
	$16
	$17
	$18
	$19
	$20
b) Plot the labor demand and the labor supply curves for this caf.
Hint: Choose Chart type: X Y scatter with smooth lines.