Refer to the figure above. If there is downward wage rigidity in the market, what will be the unemployment in the market after the demand curve shifts to LD2?
A) 20 units of labor B) 5 units of labor C) 10 units of labor D) 15 units of labor
C
Economics
You might also like to view...
Buying a monopoly from the existing owner does not ensure an economic profit because
A) the market for monopolies is a monopoly. B) competition among buyers drives up the cost of buying the firm. C) profits equal zero in the long run anyway. D) of the deadweight loss triangle.
Economics
The difference between the exchange value of a money and its cost of production is defined as
A) seigniorage. B) net value. C) net exchange profit. D) the face value.
Economics