Refer to Table 4-7. Suppose that the quantity of labor supplied decreases by 80,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $8.50; Q = 550,000 B) W = $11.50; Q = 610,000
C) W = $12.50; Q = 550,000 D) W = $8.50; Q = 630,000
C
Economics
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A) less than 0.01 B) around 0.25 C) roughly 0.33 D) close to 0.4 E) exactly 144
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Most advances in health care are due to ______.
a. better training b. increased personnel c. technological innovations d. more individualized care
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