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what is the correct solution to this multiple choice question Question 11 1 pts Consider a perfectly competitive labor market. Suppose that market demand for

what is the correct solution to this multiple choice question

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Question 11 1 pts Consider a perfectly competitive labor market. Suppose that market demand for labor hours is given by QD = 12 - 2w and market supply of labor hours is given by QS = -4 + 2w, where w is the wage rate per hour. The government imposes a minimum wage of $5 per hour. The result is market equilibrium occurs at $5, and supply meets demand at this wage. O a shortage of four hours. a non-binding minimum wage. O a surplus of four hours. O a shortage of ten hours

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