The graph represents a labor market. What is the equilibrium hourly wage? per hour What is the equilibrium number of hours worked? D hours 4. 10 12 14 16 18 Identify all the factors that would cause the equilibrium Quantity (hours) wage to increase. 4. 2. Price ($ per hour) %24 Identify all the factors that would cause the equilibrium wage to increase. increase in labor demanded decrease in labor demanded increase in labor supplied decrease in labor supplied

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