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QUESTION
Suppose that the free market labor supply and labor demand equations are given by Qs = 5W and Qd = 30 - 5W. If the minimum wage were set at $2.
Suppose that the free market labor supply and labor demand equations are given by Qs = 5W and Qd = 30 - 5W. If the minimum wage were set at $2.50 an hour, how many people would not be able to find work?
