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Home Flashcards Ydaliz Rosado's Study Deck
  Flashcards by Ydaliz Rosado

Question 1 

Resolver grafica
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Question 2 

The graph shows the market for labor.
 

Assume that P1=$3.00, P2=$4.50, P3=$6.00, P4=$12.50, P5=$18.50, Q1=90, Q2=160, and Q3=285. At a minimum wage of $12.50, what amount of consumer surplus is transferred to producers? What is the deadweight loss? At this minimum wage, there is a ________ (shortage/surplus) of workers equal to ________. Please round your answer to two decimal places.

▸ $585.00, $280.00, shortage, 195

▸ $585.00, $280.00, surplus, 195

▸ $812.50, $500.00, surplus, 125

▸ $812.50, $500.00, shortage, 125
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