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17-04-2024
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Figure: Labor Supply and Demand
Wage
$11
8
S
D
2700 3400
4500 Quantity
of labor
What is the quantity of labor that is unemployed as a result of the labor union's action to increase its wage demands to $11
an hour?
a. 700
b. 1,800
c. 1,100
d. 2,700

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