The graph on the right shows a labor supply and labor demand curve. Illustrate the impact...

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The graph on the right shows a labor supply and labor demand curve. Illustrate the impact of union pay that pushes the wage to $10 per hour. 1.) Using the point drawing tool, place a point on the graph that illustrates the market-clearing wage and quantity of labor. Label your point 'Market clearing." 2.) Using the point drawing tool, place a point on the graph that illustrates the quantity of labor demanded under union pay that results in a wage of $10 per hour. Label your point 'A.' 3.) Using the point drawing tool, place a point on the graph that illustrates the quantity of labor supplied under union pay that results in a wage of $10 per hour. Label your point 'B.' Carefully follow the instructions above and only draw the required objects. C 14- 13- 12- 11- 10- 9- 8- Wage 6 6- 5- 4- 3- 2 1- 0 1 2 Labor supply Labor demand 3 4 5 6 7 8 9 10 11 12 13 14 Quantity of labor (thousands) The graph on the right shows a labor supply and labor demand curve. Illustrate the impact of union pay that pushes the wage to $10 per hour. 1.) Using the point drawing tool, place a point on the graph that illustrates the market-clearing wage and quantity of labor. Label your point 'Market clearing." 2.) Using the point drawing tool, place a point on the graph that illustrates the quantity of labor demanded under union pay that results in a wage of $10 per hour. Label your point 'A.' 3.) Using the point drawing tool, place a point on the graph that illustrates the quantity of labor supplied under union pay that results in a wage of $10 per hour. Label your point 'B.' Carefully follow the instructions above and only draw the required objects. C 14- 13- 12- 11- 10- 9- 8- Wage 6 6- 5- 4- 3- 2 1- 0 1 2 Labor supply Labor demand 3 4 5 6 7 8 9 10 11 12 13 14 Quantity of labor (thousands)