The demand for labor is L= 4000 - 300w, where L is the number of workers demanded and w is the hourly wage rate. The supply of labor is L = 200w. The uquilibrium wage rate in this market is $ 8, and the oquilibrium quantity of labor is 1600 workers. (Entur your responses as integers.) A minimum wage law is passed that sets the minimum wage at $9 per hour. As a result, 1300 workers are demanded and 1800 workers are supplied, so unemployment is 500 workers. (Enter your reaponses as integers.) Do all workers benefit from the minimum wage law? No. because not everyone can find work at the higher wage. Which group of workers will have the least difficulty finding work at the minimum wage? Young and inexperienced warkers. O B. Low skiled workers. Highly oducated workers. XD. All of the above. The deadweight loss from the minimum wage law is ! (Enter your responae as an integer.)

What are the pros and cons of increasing the minimum wage

A company has 350 employees who work 120 hours a month each. Each worker earns $21 per hour. There is a profitable project the company would like to start, but it would require an additional 21,000 working hours within three months to be completed, and all the employees are fully loaded with other projects. The company does not want to hire new staff; they would like the project to be completed by the current workforce instead.Given that the wage elasticity of labor supply is 0.8, calculate the hourly wage the company should offer its employees to encourage them to work on the new project. Use the midpoint method and round to two decimal places throughout your calculations.

Please help with the following.

The following graph shows the labor market for research assistants in the fictional country of Universalia. The equilibrium wage is $10 per hour, and the equilibrium number of research assistants is 250. Suppose the government has decided to institute a $4-per-hour payroll tax on research assistants and is trying to determine whether the tax should be levied on the employer, the workers, or both (such that half the tax is collected from each side). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the quantity of labor demanded. You will not be…

Explain the challenges of an increasing minimum wage for an economy

Can you let me know if i got these correct. thanks

In regards to minimum wage, should there be a national standard or should minimum wage be regulated by the state?