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S 12 Wage rate 8 110 140 150 180 200 Units of labor (in millions) Refer to the figure above. According to Classical economists, if

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S 12 Wage rate 8 110 140 150 180 200 Units of labor (in millions) Refer to the figure above. According to Classical economists, if the wage rate is $12 the wage rate will __ to eliminate the Decline; surplus Decline: shortage Increase; shortage Increase; shortage

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