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For a given market demand curve, if the market clearing price increases, then the amount of producer ...

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For a given market demand curve, if the market clearing price increases, then the amount of producer ...

Question 1.

Many economists estimate that for every 10% increase in relative minimum wage rates, there is a corresponding decrease in employment of those affected equal to

• 1-2%.

• 5-10%.

• 10-20%.

• 30-40%.

Question 2.

For a given market demand curve, if the market clearing price increases, then the amount of producer surplus will

• become negative.

• increase.

• decrease.

• none of the above due to insufficient information.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 89 times

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Steve T.

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dillon_green23 Author

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5 years ago

This helped my grade so much Perfect

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Just got PERFECT on my quiz

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Correct

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