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The premium wage that Australian employers must pay to workers working outside of normal business hours (known as penalty ra
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Option E

The premium wages are wages paid to the workers who work outside the normal hours. The norm is relaxed means now the market will decide what will the rate and that is after the bargain

equilibrium wage then

The wages are less than old wages then the labor force will decrease, the wages are higher then the labor force will increase and if it is the same as before then there is no change.

The LRAS is a level of potential output level which is produced using all the available resources in the economy if the labor force increases then the LRAS shifts right, LF decreases LRAS shifts left and if LF is the same then the LRAS has no impact.

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