Question: Using a supply and demand analysis show first the labour market in equilibrium, and then by using the graphs show a)the effect of a reduction

Using a supply and demand analysis show first the labour market in equilibrium, and then by using the graphs show

a)the effect of a reduction in the demand for labour as a consequence of a pandemic.

b)The effect of a government subsidy to producers to restore the employment of labour.

Provide a diagram with clear axis details. Make sure to explain what sort of assumptions you are making on the elasticities of demand and supply.

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