Although the minimum wage leads to an inefficient allocation of resources, society may still prefer to impose the minimum wage in the interest of equity. Explain the logic behind this statement and use a welfare possibilities frontier and social indifference curves to support your answer.

Astudent draws two parabolas on graph paper. both parabolas cross the x-axis at (-4, 0) and (6,0). the y-intercept of thefirst parabola is (0, –12). the y-intercept of the second parabola is (0-24). what is the positive difference between the avalues for the two functions that describe the parabolas? write your answer as a decimal rounded to the nearest tenth.