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The graph on the right shows a labor supply and labor demand curve. Illustrate the impact of union pay that pushes the wage to $10
The graph on the right shows a labor supply and labor demand curve. Illustrate the impact of union pay that pushes the wage to $10 per houn 1.) Using the point drawing tool, place a point on the graph that illustrates the market-clearing wage and quantity of labor. Label your point 'Market clearing.' 2.) Using the point drawing tool, place a point on the graph that illustrates the quantity of labor demanded under union pay that results in a wage of $10 per hour. Label your point 'A.' 3.) Using the point drawing tool, place a point on the graph that illustrates the quantity of labor supplied under union pay that results in a wage of $10 per hour. Label your point 'B.' Carefully follow the instructions above and only draw the required objects. Wage _x_;_x_\\_x Gambit-h ome-mewmm O 1 2 3 4 5 6 7' 8 91011121314 Quantity of labor (thousands)
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