Question: The graph represents a labor market. What is the equilibrium hourly wage? What is the equilibrium number of hours worked? per hour increase in

The graph represents a labor market. What is the equilibrium hourly wage?

The graph represents a labor market. What is the equilibrium hourly wage? What is the equilibrium number of hours worked? per hour increase in labor demanded decrease in labor demanded increase in labor supplied decrease in labor supplied hours Identify all the factors that would cause the equilibrium wage to increase. Price (S per hour) 8 7 0 4 6 8 D 10 12 14 16 Quantity (hours) 18

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