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deroth deroth
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A year ago

The diagram below shows the supply and demand for labour in a competitive labour market.

Short description: A graph plots Q against w. Long description: The horizontal axis representing Q ranges from 0 to 525, in increments of 35. The vertical axis representing w ranges from 0 to 50, in increments of 5. The graph plots two lines. The line, D passes through the following points: (0, 45), (140, 35), (280, 25), (350, 20), and (490, 10). The line, S passes through the following points: (0, 5), (140, 15), (280, 25), (350, 30), and (490, 40).

FIGURE 14-6

Refer to Figure 14-6. Suppose this labour market is perfectly competitive. If a minimum wage of $20 were imposed, the quantity of labour supplied would be



▸ 140.

▸ 210.

▸ 280.

▸ 350.

▸ 420.
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Microeconomics

Microeconomics


Edition: 17th
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patriciakim08patriciakim08
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A year ago
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