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Author Question: Minimum Wage LawsThe graph shows the supply for labor (S) and the demand for labor (D). Assume that ... (Read 240 times)

M1ch3a

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on: Nov 23, 2022
Minimum Wage Laws

The graph shows the supply for labor (S) and the demand for labor (D).

Assume that P1=$1.50, P2=$4.50, P3=$6.75, P4=$9.50, P5=$15.00, Q1=310, Q2=610, and Q3=820. Suppose the government passes a law that sets the minimum wage at $9.50 an hour. How many people are laid off? How many people are unemployed new entrants?
◦ 510 laid off, 300 unemployed new entrants
◦ 510 laid off, 210 unemployed new entrants
◦ 300 laid off, 510 unemployed new entrants
◦ 300 laid off, 210 unemployed new entrants
Macroeconomics ¦ Acemoglu, Laibson, List ¦ 3rd Edition
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Marked as best answer by M1ch3a on Nov 23, 2022

dadgoere765

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Reply #1 on: Nov 23, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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M1ch3a

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Reply 2 on: Nov 23, 2022
YES! Correct, THANKS for helping me on my review

scikid

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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