The market for unskilled labor is illustrated in the figure above. The market is in equilibrium and then a minimum wage of $5 per hour is imposed. Employment will fall by
A) 0 hours.
B) 10 million hours per year.
C) 20 million hours per year.
D) 30 million hours per year.
C
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What are the two critically important functions for corporate financing performed by stock exchanges?
What will be an ideal response?
In an oligopoly
A) there are many firms. B) there is one firm. C) there are few firms. D) firms openly collude.
Firm A has a strictly higher marginal cost than firm B. They compete in a homogeneous product Bertrand duopoly. Which of the following results will NOT occur?
A. Revenue of firm A < Revenue of firm B B. ProfitA = 0 < ProfitB C. PriceA < PriceB D. QA < QB
A market in which national currencies are traded by households, firms and governments, is referred to as a(n)
A) foreign exchange market. B) fed funds market. C) international reserves market. D) gold certificate market.