The above figure shows the market for biologists. The government decides to set a minimum wage for biologists of $18 per hour
After this minimum wage is in effect, and taking account of the resources lost in job search, workers' surplus equals ________. A) $800
B) $900
C) $400
D) $1,800
E) $200
C
Economics
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Bureaucrats deciding what products should be sold in stores is a feature of a
a. traditional economy b. command economy c. market economy d. capitalist economy
Economics
If most workers are risk adverse why do we still see many workers agreeing to contracts where their compensation is variable like commissions for magazine salesmen or car salesmen?
What will be an ideal response?
Economics