At the minimum wage (set above the equilibrium wage),
a. all individuals who end up working are paid less than if they were paid the equilibrium wage.
b. none of the workers will lose there jobs or find themselves working fewer hours.
c. none of the individuals who end up working are paid more than if they were paid the equilibrium wage.
d. there will be fewer people working (or fewer labor hours demanded) than at the equilibrium wage.
e. none of the above
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “At the minimum wage (set above the equilibrium wage), a. all individuals who end up working are paid less than if they were paid the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Prepare Journal Entries in a Purchases Journal Guardian Services Inc. had the following transactions during the month of April: Apr. 4. Purchased office supplies from Officemate Inc. on account, $415. Apr. 9.
Answers (1)
Write out 2 hundred thirty thousands dollars
Answers (2)
When economists say that money is neutral, this means that: A. a change in the money supply changes nominal variables but not real variables. B. a change in the money supply changes real variables but not nominal variables. C.
Answers (2)
What is the highest degree a person must reach to be a direct service worker?
Answers (1)
Suppose Mexico's opportunity cost for producing 1 unit of food is 3 units of clothing and the United States' opportunity cost for producing 1 unit of food is 0.5 units of clothing. Trade at a ratio of 1:1 is beneficial to both countries.
Answers (1)
New Questions in Business
During discussions relating to the formation of kingfisher, seth mentions that he may be interested in either (1) just selling all of his inventory in the current year for its fair market value of $96,000 or (2) proceeding with his involvement in
Answers (1)
What is a disadvantage of government bonds? a) they have a high intrest rate b) They are difficult to find c) They are relatively risk-free d) all of the above
Answers (1)
The Sedgwick Company estimates sales of a new product at 5,000 units and $3.00 per unit. Management feels the sales quantity is accurate within a 10 percent plus-or-minus range while the sales price is accurate within a 5 percent plus-or-minus range.
Answers (1)
The actual cost of direct labor per hour is $ 11.00 and the standard cost of direct labor per hour is $ 9.50. The direct labor hours allowed per finished unit is 0.25 hour.
Answers (1)
A large oil company is studying the number of gallons of gasoline purchased per customer at self-service pumps. The mean number of gallons is 10.0, with a standard deviation of 3.0 gallons. The median is 10.75 gallons.
Answers (1)