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Author Question: FIGURE 5-1Refer to Figure 5-1. If the diagram applies to the labour market, andP3represents a ... (Read 120 times)

amymoore

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on: Oct 12, 2022

Question 1




FIGURE 5-1

Refer to Figure 5-1. If the government imposes an administered price at P2, the result will be a


◦ surplus of AF.
◦ shortage of FD.
◦ surplus of 0D.
◦ surplus of BD.
◦ shortage of AC.

Question 2




FIGURE 5-1

Refer to Figure 5-1. If the diagram applies to the labour market, and P3 represents a legislated minimum wage,


◦ the amount of labour employed will rise from quantity F to quantity C.
◦ there will be excess demand of AC in the labour market.
◦ the labour market is in disequilibrium.
◦ the free-market equilibrium wage is P0 and the labour market is unaffected by the minimum wage.
◦ there will be unemployment of AC in the labour market.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by amymoore on Oct 12, 2022

my33251

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Reply #1 on: Oct 12, 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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amymoore

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

Liddy

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Reply 3 on: Yesterday
Wow, this really help

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