consider the following situation in the country, Econometrics

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consider the following situation in the country

Consider the following situation in the Country A's labor market: If the wage is w = $7:00, workers will provide l = 10 units of labor. If the w = $3:00, workers will provide l = 2. On the other hand, if w = $5:00, rms will want l = 6, and if w = $8:00, firms will want l = 3.

a. Calculate the linear supply and demand curve.

b. Calculate market equlibrium

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Econometrics: consider the following situation in the country

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