-(Exhibit: The Minimum Wage) In equilibrium, the wage will be _______ and the quantity of labor hired will be _______ . A) W₀; L₂ B) W₁; L₁ C) W_m; L₃ D) W_m; L₂

Name: -(Exhibit: The Minimum Wage) In equilibrium, the wage will be _______ and the quantity of labor hired will be _______ . A) W 0 ; L 2 B) W 1 ; L 1 C) W m ; L 3 D) W m ; L 2
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In equilibrium, the wage and quantity of labor are determined by the intersection of the supply and demand curves, which is at W₁ and L₁.

-(Exhibit: the Minimum Wage) in Equilibrium, the Wage Will Be