If the graph shown is displaying a competitive market and the market is currently offering a wage more than P*:
A. there would be a surplus of workers who want to work at that wage.
B. there would not be unemployment in the market.
C. firms would have a hard time finding workers.
D. equilibrium would be achieved.
A. there would be a surplus of workers who want to work at that wage.
Economics
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When the monopsony model is combined with the inclusive union model the result is a case of:
A. Occupational licensing B. Noncompeting groups C. Bilateral monopoly D. Institutional immobilities
Economics
The Interstate Commerce Commission (ICC) was established in 1887 to regulate:
A. banking. B. railroads and all surface transportation. C. nationwide advertising. D. interstate sales of food and drugs.
Economics