What is the quantity of labour supplied

Reference no: EM13204063

Consider a labour market in which the supply curve is given by: w= 10 + Ls (where w is the wage rate and Ls is the quantity of labour supplied). Further, assume that the demand for labour is given by w = 100 - Ld (where w is the wage rate and Ld is the quantity of labour demanded). Assume that the government imposes a minimum wage of 60. In this case the resulting deadweight loss is equal to what?

Reference no: EM13204063

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