This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The market for unskilled labor is illustrated in the figure above. If a minimum wage of 5 per hour ... (Read 113 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
on: Jun 29, 2018
The market for unskilled labor is illustrated in the figure above. If a minimum wage of 5 per hour is imposed, an employer who breaks the law will be able to find a worker who is willing to work for
 
  A) less than or equal to 4 per hour.
  B) between 4 and 5 per hour.
  C) more than or equal to 5 per hour.
  D) None of the above because workers are not willing to supply labor for wage rates less than 5 per hour.

Question 2

The above (incomplete) table provides information about the relationships between labor and various product measures. The amount of labor that maximizes the marginal product of labor is
 
  A) 2 units of labor.
  B) 3 units of labor.
  C) 4 units of labor.
  D) 5 units of labor.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tkempin

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 29, 2018
Thank you :)


tkempin

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

The primate dental formula illustrated for (a) the lower dentition of an Old World monkey and (b) th The primate dental formula illustrated for (a) the lower dentition of an Old World monkey and (b) th
Collecting a 24-Hour Urine Specimen Collecting a 24-Hour Urine Specimen
Some ignition coils are electrically connected, called married (top figure), whereas others use ... Some ignition coils are electrically connected, called married (top figure), whereas others use ...
Indentured Labor from Asia Indentured Labor from Asia
An educational institution has total direct labor and material costs of $1964 per student. Its ... An educational institution has total direct labor and material costs of $1964 per student. Its ...
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Video: Calvin cycle (The light-independent reactions )

For a complete list of videos, visit our video library