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What shape does it have?

4. What shape would the curve of Exercise 3 have if the distribution were

At a Price (Wage) This Many Enter per Hour of: the Industry:

4 1,000

5 10,000

6 10,000

7 10,000

8 10,000

5. Suppose that the going price of typists is $5 an hour. What do you call the difference between $5 an hour and the $3 an hour at which some typists would nonetheless enter?

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