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Suppose the following equations characterize sup - ply and demand in the labor market model:Labor Supply: Ls = 2 w + 3 0 Labor Demand:

Suppose the following equations characterize sup-ply and demand in the labor market model:Labor Supply: Ls =2w +30Labor Demand: Ld =60 wEquilibrium occurs at an employment level L and a wage w, so that the labormarket clears. That is, labor supply is equal to labor demand: Ls = Ld.a. What are the endogenous variables in the labor market model?b. Solve for the equilibrum values of the endogenous variables

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