Suppose the market demand and supply for labor hours in a segment of a labor market affected by a minimum wage in a certain state is given by the table below. Labor Hours Demanded 72 73 75 77 79 81 Hourly Wage $10 $9 $8 $7 $6 $5 Labor Hours Supplied 85 80 75 70 65 60 Using the graph below, show the equilibrium wage and hours of labor in this market. Suppose the state government sets a minimum wage of $9 per hour. Using the graph below, and beginning from the equilibrium you identified in a), demonstrate the effects of this minimum wage on; i) the quantity of labor supplied, and, ii) the quantity of labor demanded. Has the minimum wage raised or lowered the hours of labor employed? Explain.