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Whats the answer? The graph illustrates a labour market in which there is a minimum wage of $5 per hour. Wage rate (dollars per hour)

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Whats the answer?

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The graph illustrates a labour market in which there is a minimum wage of $5 per hour. Wage rate (dollars per hour) 8- What is the minimum possible deadweight loss with the minimum wage in place? 7- The minimum possible deadweight loss is $ million. S Minimum 5- wage 4- 3 2- D . . . . . 18 19 20 21 22 23 24 25 Quantity (millions of hours per year) [Note: The horizontal axis does not begin at zero.]

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