Author Question: The figure illustrates the market for haircuts. Curve A is the ________ curve, and curve B is the ... (Read 132 times)

Zoey63294 · **on:** Jun 29, 2018

The figure illustrates the market for haircuts. Curve A is the ________ curve, and curve B is the ________ curve.

A) marginal social cost; marginal social benefit
B) total social cost; total social benefit
C) opportunity cost; opportunity benefit
D) marginal social benefit; marginal social cost

Question 2

In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of 6 per hour will initially

A) increase employment from 20 to 40 million hours per year.
B) increase employment from 30 to 40 million hours per year.
C) decrease employment from 40 to 20 million hours per year.
D) decrease employment from 30 to 20 million hours per year.