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Table 9.7 illustrates the hypothetical demand and supply schedules of labor in the United States. Assume that labor and capital are the only two factors

Table 9.7 illustrates the hypothetical demand and supply schedules of labor in the United States. Assume that labor and capital are the only two factors of production. On graph paper, plot these schedules.

TABLE 9.7 Demand and Supply of Labor Quantity Quantity Quantity Wage ($) Demanded Suppliedo Supplied 4 4 NNNNN DOANO ONAn

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