Legislation setting high minimum wage rates benefits
A) many people receiving wages far above the minimum by reducing competition from unskilled workers.
B) no group in the economy, but is nonetheless widely supported out of ignorance.
C) only people who were previously receiving less than the legal minimum.
D) primarily teenagers and unskilled workers.
E) the whole economy by pushing up average income.
A
Economics
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Opportunity costs:
a. only include explicit costs paid out-of-pocket b. never involve costs paid out-of-pocket. c. may or may not involve costs paid out-of-pocket. d. are always measured in terms of time.
Economics
Refer to the data. At 6 units of output, total fixed cost is ____ and total cost is ____.
A. $25; $50
B. $50; $300
C. $100; $200
D. $150; $300
Economics