Workers derive no value from the mandated benefit

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Assume labor market demand is given by: Ld = 10 – w and labor market supply by: Ls = w – 2. Suppose that the government mandates that all firms provide a particular benefit to their workers and that this benefit costs t = $1 per unit of labor hired. Suppose also that workers derive no value from the mandated benefit. After the implementation of the mandate, the equilibrium quantity of labor hired is [L].

Reference no: EM131076555

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