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Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.
Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 09018027036045054063072081090020181614121086420WAGE (Dollars per hour)LABOR (Thousands of workers) Demand Supply Graph Input Tool Market for Labor in the Fast Food Industry 6 Wage (Dollars per hour) Labor Labor Supplied Demanded (Thousands of (Thousands workers) of workers) In this market, the equilibrium hourly wage is $10 and the equilibrium quantity of labor is 450 thousand workers. Points: 1/1 Close Explanation Explanation: The equilibrium hourly wage and quantity of workers occur at the intersection of the demand and
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