Q)please draw a graph and explain this question pls The UBC labour market can be described by the demand function Q = 200,000 – 2000P and the supply function Q = 3000P – 50,000. The UBC Board set a minimum wage at $80 in 2022, and in 2023, set a quota at 50,000 workers. The change in deadweight loss between 2022 and 2023, to the closest dollar, is A) 0 B) 1,500,000 C) 1,041,667 D) 458,333 E) None of the Above

Q)please draw a graph and explain this question pls The UBC labour market can be described by the demand function Q = 200,000 – 2000P and the supply function Q = 3000P – 50,000. The UBC Board set a minimum wage at $80 in 2022, and in 2023, set a quota at 50,000 workers. The change in deadweight loss between 2022 and 2023, to the closest dollar, is A) 0 B) 1,500,000 C) 1,041,667 D) 458,333 E) None of the Above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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