In the above figure, if there is no minimum wage, the equilibrium employment is ________; if the government imposed a minimum wage of $8 per hour, employment is ________
A) 4,000 hours; 2,000 hours
B) 3,000 hours; 4,000 hours
C) 3,000 hours; 2,000 hours
D) 4,000 hours; 3,000 hours
C
Economics
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The vertical axis in a graph
A) is named the y-axis. B) is named the x-axis. C) is not used in a scatter diagram. D) has no origin.
Economics
Which of the following factors affect vertical integration of firms?
a. The demand for the final product in the market. b. The market power of each firm in an industry. c. The number of firms in an industry. d. The transaction cost at each stage of production.
Economics