wage 56.50 D SMC 50,000 DIME Maumwage a(number of workers 75,000 10,000 The figure above shows a labor market. After a minimum wage of $7.25 an hour is imposed, employment equals workers. a 40,000 b. 50,000 €90,000 d. 75,000

wage 56.50 D SMC 50,000 DIME Maumwage a(number of workers 75,000 10,000 The figure above shows a labor market. After a minimum wage of $7.25 an hour is imposed, employment equals workers. a 40,000 b. 50,000 €90,000 d. 75,000

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 20RQ: Why is there unemployment in a labor market with flexible wages?

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Question

14.
Wage
$7.25
56.50
D
C
I
50,000
SMC
DAMB
Minimum wage
a(number of workers)
75,000
10,000
The figure above shows a labor market. After a minimum wage of $7.25 an hour is
imposed, employment equals
workers.
a 40,000
b. 50,000
€ 90,000
d. 75,000

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