The question is “Determine the wage on the market with the help of a figure if the supply of labor is described by W = 0.002L + 5 where W is in kronor and L is the number of working hours.” So how do I plot this supply?
I know that P = 40 and there is 100 firms in the market. Also I have plotted MRPL into the industry’s graph since this was given:
10 1010 2019 3022 40
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