when answering please refer to the mark allocation given

Question 7 [Marks: 20) Q.7.1 The graph below depicts the labour market for truck drivers. This is a perfectly competitive labour market. Use the graph to answer Questions 7.1.1 - 7.1.3. EZ 300 250 D1 D2 80 100 125 O The Independent Institute of Education [Pty) Inc 2020 Page ! of 10 Q.7.1.1 Assume the market demand curve is D1, the market supply curve is 5 (2) and equilibrium is at E. Now the market wage rate paid to truck drivers increases from R250 to R300. Identify the type of disequilibrium that will result from such a wage increase. Q.7.1.2 Determine the size of the disequilibrium that will result from an (21 increase in the wage rate from R250 to R300. Q.7.1.3 Assume market equilibrium is at El at the intersection of DI and S. Now (6] the demand curve shifts from D1 to D2 on the graph. Identify any three factors that could result in this increase in the demand for truck drivers. Q.7.2 Use a graph to illustrate and explain the individual supply of labour curve. In your (10) answer, describe the forces that determine the form (shape] of the individual supply of labour curve