Market demand for labor is described by LD = 50 - W

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Uploaded: 29.08.2013
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Market demand for labor is described by LD = 50 - W, where the LD amount of labor used in thousands of man-days, a W - the daily wage rate. Market supply of labor is described by LS = 2W - 25, define the scope of unemployment in establishing state minimum wage of 40 monetary units.


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