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QUESTION

Use both isoquant analysis and one of the graphs showing the quantity of labor and wage rates from question 8 to show what can be expected to happen

Use both isoquant analysis and one of the graphs showing the quantity of labor and wage rates from question 8 to show what can be expected to happen to the quantity of labor hired if the minimum wage is increased next year. Be sure to explain in words what is happening on your graphs.

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