Question: Figure 16P-5 shows a local labor market. What is the quantity supplied and quantity demanded when the minimum wage is: a. At equilibrium? b. $15,000?

Figure 16P-5 shows a local labor market. What is the quantity supplied and quantity demanded when the minimum wage is:

Figure 16P-5 shows a local labor market. What is the quantity supplied

a. At equilibrium?
b. $15,000?
c. $20,000?

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