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blinkrb blinkrb
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A year ago
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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Macroeconomics

Macroeconomics


Edition: 3rd
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jennaforierojennaforiero
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blinkrb Author
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A year ago
Thanks
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Thank you, thank you, thank you!
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