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Plot the supply and demand curves

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Reference no: EM132812904

Suppose that the supply curve for private schoolteachers is Ls= 20,000 + 350W, and the demand curve for such schoolteachers is Ld= 100,000 -150W, where L = the number of teachers and W = the daily wage.

a. Plot the supply and demand curves.

b. What are the equilibrium wage and employment levels in this market?

c. What will be the effect on labour demand and supply if the government imposes a minimum wage of 200 GHS

Reference no: EM132812904

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