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Author Question: Refer to Table 4-8. Suppose that the quantity of labor supplied decreases by 40,000 at each wage ... (Read 56 times)

dejastew

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on: Jun 29, 2018
Refer to Table 4-8. Suppose that the quantity of labor supplied decreases by 40,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
 
  A) W = 9.50; Q = 370,000 B) W = 10.00; Q = 350,000
  C) W = 9.00; Q = 330,000 D) W = 8.00; Q = 390,000

Question 2

Refer to Figure 3-4. At a price of 20, how many units will be supplied?
 
  A) 400 B) 500 C) 600 D) 800


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T4T

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

C


dejastew

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

lindahyatt42

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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