This topic contains a solution. Click here to go to the answer

Author Question: The table below shows the labour demand and labour supply schedules in a competitive labour ... (Read 96 times)

byomi

  • Full Member
  • ***
  • Posts: 130
The table below shows the labour demand and labour supply schedules in a competitive labour market.

Wage Rate
($/hour)
Quantity
Demanded
of Labour
(hours/month)
Quantity Supplied
of Labour
(hours/month)
101300500
1210001000
14  8001300
15  4001500
17  2001800

TABLE 14-1

Refer to Table 14-1. In a competitive labour market, a legislated minimum wage imposed at $10 per hour would
◦ have no effect on the competitive equilibrium level of employment.
◦ lead to unemployment of 500 hours/month.
◦ lead to an equilibrium wage higher than the competitive wage.
◦ lead to over-employment of 500 hours/month.
◦ lead to an employment level lower than the competitive level.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by byomi on Oct 12, 2022

saly

  • Full Member
  • ***
  • Posts: 165
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.
Answer Preview
Only 29% of students answer this correctly




byomi

  • Member
  • Posts: 130
Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)


bigcheese9

  • Member
  • Posts: 333
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

For a complete list of videos, visit our video library