Form a separate model from that created in question 7 above, but using the same LS...

Form a separate model from that created in question 7 above, but using the same L_S and L_D equations, and show how worker and employer surpluses change based on the imposition of a wage ceiling at $17 – be sure to represent the area for dead weight loss and all values needed to calculate these changed areas and values. Again, it is not necessary to calculate the values for ES, WS, etc. but you must show the areas of these surpluses/losses.

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Rahul Sunny answered 1 year ago

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