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Author Question: The market for unskilled labor is illustrated in the figure above. If a minimum wage of 5 per hour ... (Read 125 times)

rosent76

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on: Jun 29, 2018
The market for unskilled labor is illustrated in the figure above. If a minimum wage of 5 per hour is imposed, an employer who breaks the law will be able to find a worker who is willing to work for
 
  A) less than or equal to 4 per hour.
  B) between 4 and 5 per hour.
  C) more than or equal to 5 per hour.
  D) None of the above because workers are not willing to supply labor for wage rates less than 5 per hour.

Question 2

The above (incomplete) table provides information about the relationships between labor and various product measures. The amount of labor that maximizes the marginal product of labor is
 
  A) 2 units of labor.
  B) 3 units of labor.
  C) 4 units of labor.
  D) 5 units of labor.


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tkempin

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

A

Answer to Question 2

A


rosent76

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Reply #2 on: Jun 29, 2018
Thank you :)


tkempin

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Reply #3 on: Jun 29, 2018
Happy to help you


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