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Author Question: The table below shows the labour demand and labour supply schedules in a competitive labour ... (Read 131 times)

kms5229

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on: Oct 12, 2022
The table below shows the labour demand and labour supply schedules in a competitive labour market.

Wage Rate
($/hour)		Quantity
Demanded
of Labour
(hours/month)		Quantity Supplied
of Labour
(hours/month)
101300500
1210001000
14  8001300
15  4001500
17  2001800

TABLE 14-1

Refer to Table 14-1. In a competitive labour market, a legislated minimum wage imposed at $14 per hour would
◦ have no effect on the competitive equilibrium wage.
◦ lead to unemployment of 500 hours/month.
◦ lead to an equilibrium wage lower than the competitive wage.
◦ have no effect on the competitive equilibrium level of employment.
◦ lead to unemployment of 300 hours/month.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by kms5229 on Oct 12, 2022

hvhf4k+549qz8f218jyo@shar

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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kms5229

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

laurnthompson

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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