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Question
The labor supply curve is given by the equation LS= 3W + 20 and the labor demand curve is given by the equation LD= 80 - 2W. If the wage is $20, there will be a ________ of ________ workers.
a. surplus; 80
b. shortage; 40
c. shortage; 80
d. surplus; 40
e. surplus; 20
Answer
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