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The diagram below shows the supply and demand curves for some product somewhere. 260 240 220 200 180 160 140 price per unit (P) 120
The diagram below shows the supply and demand curves for some product somewhere. 260 240 220 200 180 160 140 price per unit (P) 120 100 80 60 40 20 0 50 100 150 200 250 300 350 400 450 500 550 600 number of units (Q) If the wages of workers producing this product were to decrease leading to a change of 150, then the new equilibrium price and quantity traded would be $ and units. Hint: wages is a cost to the firm
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