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Economics

Demand and supply of labor

How do you solve for a, b, c, e in the equations: Qd = a-bW and Qs = c+eW when you know the equilibrium wage (or price) is $4, there are 100,000 people employed, Elasticity of demand is equal to -0.4 and Elasticity of supply is equal to 0.2?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9213572

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