Which of the following is the most likely result of an increase in the minimum wage?
a. an increase in the employment of unskilled workers
b. a decrease in the number of workers seeking minimum wage jobs
c. an increase in the demand for unskilled workers
d. a decrease in the employment of unskilled workers
D
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When marginal revenue equals marginal cost, the firm
a. should increase the level of production to maximize its profit. b. may be minimizing its losses rather than maximizing its profit. c. must be generating positive economic profits. d. must be generating positive accounting profits.
Juan wants to migrate from Mexico to the United States but knows he cannot do so legally at this time. If he decides to attempt to enter the United States illegally, which of the following costs will he most likely not face?
A. Payment to an expediter ("coyote") to facilitate his entry into the United States. B. A green card application fee. C. The loss of income from his current factory job. D. All of these are costs he must incur to migrate.