Author Question: In the above figure suppose a minimum wage of 8 per hour is imposed. As a result, the quantity of ... (Read 116 times)

Marty · **on:** Jun 29, 2018

In the above figure suppose a minimum wage of 8 per hour is imposed. As a result, the quantity of labor supplied is ________ hours and the quantity of labor demanded is ________ hours.

A) 3,000; 4,000
B) 4,000; 4,000
C) 2,000; 4,000
D) 4,000; 2,000

Question 2

In the above table, the marginal product of the second worker is

A) 1.
B) 2.
C) 3.
D) 4.