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w {$ per unit) L [quantity of labor) Chart related questions: 1) What is this a chart of? 2) Why is the ME line above

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w {$ per unit) L [quantity of labor) Chart related questions: 1) What is this a chart of? 2) Why is the ME line above the S=MC line? 3) Who wants the wage that the green arrow (top) is pointing to? 4) Who wants the wage that the red arrow (bottom) is pointing to? 5) What is represented by the double-headed arrow between Wu and Wm

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