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Equilibrium Price AnswerQuestion A.Equilibrium Price (Wages)LD = 120-10WLS = 20W=LD=LS=120 – 10W = 20W=120 = 20W + 10W=120 = 30W=W = 120 30W = RM 4 Equilibrium quantity of Labor: = LS = 20W= LS = 20(4)= LS = 80 Million person hours The impact minimum wages.