The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $8 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours
B) 9,000 hours
C) 6,000 hours
D) 0 hours
C
Economics
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In the long-run, in a monopolistically competitive market:
a. marginal revenue is greater than average revenue. b. price equals marginal cost. c. price equals minimum average total cost. d. the firms earn positive economic profits. e. resources are inefficiently allocated .
Economics
An investor is trying to decide whether to put his funds into stocks or bonds. He expects rising interest rates over the next year and higher inflation. Your advice?
Economics