The following table gives the supply and demand schedules for teenage labour in Prince George. Wage Rate ($ per hour) Quantity Demanded Quantity Supplied (hours (hours per month per month) 4 3000 1000 5 2500 1500 6 2000 2000 7 1500 2500 8 1000 3000 a) What is the equilibrium wage rate and quantity of hours worked? (1 mark) b) If a minimum wage for teenagers is set at $5 an hour, how many hours do they work and how many hours of teenage labour are unemployed? (2 marks) c) If a minimum wage for teenagers is set at $7 an hour, how many hours do they work and how many hours of teenage labour are unemployed? (2 marks) d) In addition to the $7 minimum wage, suppose the demand for teenage labour increases by 500 hours a month. What is the wage rate paid to teenagers, how many hours do they work and how many hours of teenage labour are unemployed