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The figure shows a labor market with minimum wage equal to $16. In this figure out what area equals the firms surplus?A. Area aB. Area

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The figure shows a labor market with minimum wage equal to $16. In this figure out what area equals the firms surplus?A. Area aB. Area bC. Area cD. Area DE. Area E

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Wage rate (dollars per hour) 28 . . . .... LS 24 20 16 Minimum B wage 12 -. .. . . 8 4 E LD 0 500 1,000 1,500 2,000 2.500 3,000 3,500 Quantity (thousands of workers)

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