The demand and supply curves for labour in a small competitive town are given by Demand: w = 18 - 3L; Supply: w = 3 + 2L where w = wage (5 per hour) and L = hours of employment (thousands of hours per month). Plot the demand and supply curves to scale. Solve for the equilibrium level of w and L in the case of no government intervention. Now suppose the town council imposes a minimum wage equal to $10 per hour. What is the new level of employment? Identify in your diagram the area that is the deadweight loss. Compute its size, measured in thousands of dollars per month