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Several members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix
Several members of Parliament have been greatly concerned about the fairness of salaries in the marketplace. They are contemplating enacting a law that would fix the wage rate at WA. Their aides have returned with the results of an investigation into the matter, as portrayed in Graphs A and B. A. Market for Computer B. Market for K-12 Teachers Software Programmers We Wage rate Wage rate WA WA W Quantity of Computer Quantity of K-12 Teachers Software Programmers Refer to Figure 11-1. If the wage law were NOT enacted, what would be the prevailing wage rate and quantity of labour in the marketplace for K-12 teachers at equilibrium? WE and Q1, respectively WA and Q2, respectively WA and Q3, respectively
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