You're a staffer working for Senator Joe King, a diehard opponent of minimum wages. The Senator wants to persuade other members of Congress to oppose a new proposal to raise the minimum wage. He needs...

Extracted text: You're a staffer working for Senator Joe King, a diehard opponent of minimum wages. The Senator wants to persuade other members of Congress to oppose a new proposal to raise the minimum wage. He needs you to calculate the cost to society of a $17 minimum wage according to the neoclassical model of labor markets. Suppose the market for labor has the equations LD= 172 - 4W LS= -30 + 23W where W is the wage and L is the number of workers. Give your answer in dollars, rounded to the nearest integer.