Ask a New Question

Suppose that the free market labour supply and labour demand equations are given by

Qs = 5W and Qd = 30 - 5W. If the minimum wage were set at $2.50 an hour, how many
people would not be able to find work?

1 answer

20

Ask a New Question or answer this question.

Similar Questions

Given labour demand=c-dwLabour supply=a+bw A)determine equilibrium w B)assume that a worker derive a benefit k in monetary value
1. 1 answer
Advanced economics question(Keynes),HELP PLEASE?1. except for the discovery of the changes in price level, what causes the
1. 4 answers
Suppose the minimum wage is above the equilibrium wage in the market for unskilled labour. Using a demand and supply diagram of
1. 0 answers
In the context of a supply-demand diagram of the low-skill labour market, a minimum wage above the competitive equilibrium will
1. 0 answers

more similar questions