This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The federal minimum wage in 2010 was 7.25. If this wage rate was less than the equilibrium wage, ... (Read 281 times)

vHAUNG6011

  • Hero Member
  • *****
  • Posts: 514
on: Jun 29, 2018
The federal minimum wage in 2010 was 7.25. If this wage rate was less than the equilibrium wage, what is the effect?
 
  A) The minimum wage does not create unemployment.
  B) The number of people who want to work at the minimum wage is the same as the number of available jobs.
  C) The number of people who want to work at the minimum wage is greater than the number of available jobs.
  D) Deadweight loss exists.

Question 2

In the long-run, a firm in monopolistic competition has
 
  A) a price that exceeds its average total cost.
  B) a price that exceeds its marginal cost.
  C) an average total cost that exceeds its price.
  D) a marginal cost that exceeds its price.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nmyers

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


vHAUNG6011

  • Member
  • Posts: 514
Reply 2 on: Jun 29, 2018
Excellent

duy1981999

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

Today, nearly 8 out of 10 pregnant women living with HIV (about 1.1 million), receive antiretrovirals.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Changes in the abundance and egg-hatching success rate of prairie chickens. Changes in the abundance and egg-hatching success rate of prairie chickens.
Biology Discussion Forums (2010) Biology Discussion Forums (2010)
Most drugs exhibit first-order elimination, in which the rate of drug elimination is equivalent to ... Most drugs exhibit first-order elimination, in which the rate of drug elimination is equivalent to ...
How to use the closed interval method to find absolute maximum and minimum values How to use the closed interval method to find absolute maximum and minimum values
Target Heart Rate Target Heart Rate
The rate of replacement of a recessive allele d by the dominant allele D by mutation alone. Even tho The rate of replacement of a recessive allele d by the dominant allele D by mutation alone. Even tho
Video: Introduction to Diabetes

For a complete list of videos, visit our video library