\text { Pg } 71Suppose the demand function ( Q d ) = 50 - p an... | Filo
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SOLVED: Consider the demand and supply curves in the labor-market diagram. Using the line drawing tool, draw a new line that illustrates the effect of improved working conditions in this industry. Properly label this new line. Carefully follow the instructions above and only draw the required objects. The effect of the supply shift is that the market wage rate rises and equilibrium employment falls.50.0045.0040.0035.00 Hour30.00 Jed27.5025.00 Rate20.00 Wage15.0010.00RisesFalls-Do5.000.003.000.00
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