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Consider the demand and supply curves in the labor-market diagram. Using the line drawing tool, draw a new line that illustrates the effect of improved working conditions in this industry. Properly label this new line. Carefully follow the instructions above and only draw the required objects. The effect of the supply shift is that the market wage rate rises and equilibrium employment falls.50.0045.0040.0035.00 Hour30.00 Jed27.5025.00 Rate20.00 Wage15.0010.00RisesFalls-Do5.000.003.000.001.002030

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In a supply and demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case, show the effect on equilibrium price and quantity. a. The price of tacos increases. b. All hamburger sellers raise the price of their french fries. c. Income falls in town. Assume that hamburgers are a normal good for most people. d. Income falls in town. Assume that hamburgers are an inferior good for most people. e. Hot dog stands cut the price of hot do

In a supply and demand diagram, draw the shift of the demand curv…

In a supply and demand diagram, draw the shift of the demand curve for hamburgers in your hometown due to the following events. In each case, show the effect on equilibrium price and quantity. a. The price of tacos increases. b. All hamburger sellers raise the price of their french fries. c. Income falls in town. Assume that hamburgers are a normal good for most people. d. Income falls in town. Assume that hamburgers are an inferior good for most people. e. Hot dog stands cut the price of hot do

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