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Author Question: In the above figure, without a minimum wage, the equilibrium quantity of labor employed ________ ... (Read 97 times)

Tirant22

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on: Jun 29, 2018
In the above figure, without a minimum wage, the equilibrium quantity of labor employed ________ million hours, and the equilibrium wage rate is ________ per hour.
 
  A) 100; 2
  B) 200; 4
  C) 300; 6
  D) 400; 8

Question 2

In the above table, the marginal product is greatest when the
 
  A) first worker is hired.
  B) second worker is hired.
  C) third worker is hired.
  D) fourth worker is hired.


taylorsonier

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

B

Answer to Question 2

B


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