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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

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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) 120 100 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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