With few applicants and several key positions to fill, the owner of a computer support company increased the starting wage offered from $20.00 to $25.00 per hour. With the higher wage, there were more qualified applicants than needed, and all the positions were filled. What is true of the increased wage offer?
a. It sets $25.00 as the equilibrium wage.
b. It establishes the equilibrium quantity.
c. It attracted a surplus of labor.
d. The quantity demanded exceeded the quantity supplied.
c. It attracted a surplus of labor.
Economics
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a. depends on expert input and is based on least-cost available technology b. obtains estimates of abatement costs directly from polluting sources c. relies on surveys to find the implicit costs of pollution abatement d. is also known as the physical linkage approach
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