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Suppose that you estimate the demand and supply functions for labor

Question # 00619260
Subject: Accounting
Due on: 11/17/2017
Posted On: 11/17/2017 05:51 AM
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  1. Suppose that you estimate the demand and supply functions for labor, where L stands for the quantity of labor (measured in thousands of workers) and W stands for the wage rate (measured in dollars per hour):

Demand: LD= 100 - 4W

Supply: LS= 6W

What is the free market equilibrium wage and quantity of labor?

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Suppose that you estimate the demand and supply functions for labor

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