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

Author Question: The market for unskilled labor is illustrated in the figure above. If a minimum wage of 5 per hour ... (Read 154 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

tkempin

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A


rosent76

  • Hero Member
  • *****
  • Posts: 516
Reply #2 on: Jun 29, 2018
Thank you :)


tkempin

  • Sr. Member
  • ****
  • Posts: 332
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

According to research, pregnant women tend to eat more if carrying a baby boy. Male fetuses may secrete a chemical that stimulates their mothers to step up her energy intake.

Did you know?

Chronic necrotizing aspergillosis has a slowly progressive process that, unlike invasive aspergillosis, does not spread to other organ systems or the blood vessels. It most often affects middle-aged and elderly individuals, spreading to surrounding tissue in the lungs. The disease often does not respond to conventionally successful treatments, and requires individualized therapies in order to keep it from becoming life-threatening.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

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 immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Hypothyroidism. Hyposecretion of the thyroid gland produces the symptoms that are illustrated. Hypothyroidism. Hyposecretion of the thyroid gland produces the symptoms that are illustrated.
James Madison was a key figure at the Constitutional Convention of 1787 in Philadelphia. He not only James Madison was a key figure at the Constitutional Convention of 1787 in Philadelphia. He not only
This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
(B) Urine collection cup; (C) 24-hour urine container. (B) Urine collection cup; (C) 24-hour urine container.
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Figure and Ground Figure and Ground
Video: Calvin cycle (The light-independent reactions )

For a complete list of videos, visit our video library