Question

The plumber labor market of the town X is perfectly competitive, supply is a linear function
that passes through the origin. The equilibrium wage is 10$ per hour. After the minimum wage
of 12$ per hour was introduced, the quantity supplied of labor increased by 10 workers, the
quantity demanded fell by 12 workers. Find the unemployment rate (pick the nearest
estimate).
1. 0%
2. 17%
3. 37%
4. 46%

Please heeeelp, Id be incredibly grateful <3

Answer 1

Answer:

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