The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 400 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What wage must be paid at the profit maximizing quantity of coal miners?

A. $23,333

B. $16,670

C. $13,336

D. $21,667


D. $21,667

Economics

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Economics

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Economics

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Economics