Calculate market equlibrium

Reference no: EM13176760

Consider the following situation in the Country A's labor market: If the wage is w = $7:00, workers will provide l = 10 units of labor. If the w = $3:00, workers will provide l = 2. On the other hand, if w = $5:00, rms will want l = 6, and if w = $8:00, firms will want l = 3.

a. Calculate the linear supply and demand curve.

b. Calculate market equlibrium

Reference no: EM13176760

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