If the equilibrium wage is $4 per hour and the minimum wage is $5.15 per hour, then a shortage of labor will exist
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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When the price of a product decreases, the marginal revenue product curve in a perfectly competitive market
A) does not change. B) becomes flatter. C) shifts to the right. D) shifts to the left.
Economics
Which of the following is not a benefit of decentralization of corporate decisionmaking?
A. More effective use of local knowledge B. Conservation of the time of senior management C. Training and motivation for local managers D. Incentive problems
Economics
Why is deadweight loss less with the deficiency payment program than with surplus purchasing price support programs?
What will be an ideal response?
Economics
What is a marginal benefit?
What will be an ideal response?
Economics