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Author Question: The diagram below shows the supply and demand for labour in a hypothetical town in northern British ... (Read 69 times)

warrenjean01

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on: Oct 12, 2022

The diagram below shows the supply and demand for labour in a hypothetical town in northern British Columbia, with only one employer, a logging company.



FIGURE 14-4

Refer to Figure 14-4. Suppose this labour market is in a monopsonistic equilibrium. Then, suppose the provincial government of British Columbia imposes a minimum wage for employees in this industry of $38 per hour. What will be the effects on wages and employment?


◦ Wages will rise by $8 per hour and employment will remain unchanged.
◦ Wages will rise by $8 per hour and employment will fall below 750 units of labour.
◦ Wages will rise by $3 per hour and employment will fall by 125 units of labour.
◦ Wages will rise by $13 per hour and employment will fall below 750 units of labour.
◦ Wages will rise by $8 per hour and employment will fall by between 0 and 250 units of labour.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by warrenjean01 on Oct 12, 2022

kyledifference

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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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warrenjean01

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

tkempin

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

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