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1. If the minimum wage is set at $100, how many will be unemployed?
2. If the minimum wage is equal to $125, what is the quantity of labor supplied, the quantity of labor demanded, and number unemployed?
Business Economics, Economics
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A researcher conducts a well-designed study to compare a sample mean to a known population mean and uses alpha=.05, two-tailed. She finds a z-test of 1.98, p-value=.048. What should she conclude? a. The 95% confidence in ...
Consider a low wage market. Assume that the market demand curve is P = 20 - Q/500, and the market supply curve is P = 2 + Q/1,000. Workers in this market are not presently covered by the minimum wage, but the government ...
Equipment maintenance costs for manufacturing explosion-proof pressure switches are projected to be $125,000 in year one and increase by 3.5% each year through year five. What is the equivalent annual worth of the mainte ...
Question 1: On a certain banking machine customer arrives at an average 15 per hour. a. What is the probability that 12 customers will use the machine in the next hour? b. What is the probability that there will be fewer ...
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