Answered: If the Labor Demand Curve is given by…

If the Labor Demand Curve is given by the equation W = 18 – 0.5L, then the maximum willingness to pay for the 16th worker is Group of answer choices a) $8.50. b) $11. c) $10. d) $8. e) $17.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If the Labor Demand Curve is given by the equation W = 18 – 0.5L, then the maximum willingness to pay for the 16^th worker is

Group of answer choices

a) $8.50.

b) $11.

c) $10.

d) $8.

e) $17.

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