Consider the labor market depicted in the above figure. What wage ...

[AEWBW]

Consider the labor market depicted in the above figure. What wage rate must be paid to have the 200th hour of labor supplied?
 
  A) 10
  B) 15
  C) 20
  D) None of the above answers is correct.

Question 2

In a market with a Herfindahl-Hirschman Index of 2,000, according to their guidelines will the Department of Justice challenge a merger that would increase the index by 100?
 
  What will be an ideal response?

[missalyssa26]

Answer to Question 1

A

Answer to Question 2

Yes, according to their guidelines the Department of Justice will challenge a merger that increases the Herfindahl-Hirschman Index by more than 100 points if the initial index is greater than 1,500.

[AEWBW]

Thanks for the timely response, appreciate it

[recede]

YES! Correct, THANKS for helping me on my review