This topic contains a solution. Click here to go to the answer

Author Question: The market for unskilled labor is illustrated in the figure above. If a minimum wage of 5 per hour ... (Read 161 times)

rosent76

  • Hero Member
  • *****
  • Posts: 516
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
Answer to Question 1

A

Answer to Question 2

A





 

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

Blastomycosis is often misdiagnosed, resulting in tragic outcomes. It is caused by a fungus living in moist soil, in wooded areas of the United States and Canada. If inhaled, the fungus can cause mild breathing problems that may worsen and cause serious illness and even death.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

For a complete list of videos, visit our video library