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20 Wage rate (dollars per hour) 16 16 12 8 4 0 3 6 9 12 S 15 18 Quantity (thousands of hours per month) 57) 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 do students work? A) 12,000 hours B) 9,000 hours C) 6,000 hours D) None of the above answers is correct. 58) The figure above shows the demanor 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

20 Wage rate (dollars per hour) 16 16 12 8 4 0 3 6 9 12 S 15 18 Quantity (thousands of hours per month) 57) 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 do students work? A) 12,000 hours B) 9,000 hours C) 6,000 hours D) None of the above answers is correct. 58) The figure above shows the demanor 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

Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter11: Labor Markets
Section: Chapter Questions
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20 Wage rate (dollars per hour) 16 16 12 8 4 0 3 6 9 12 S 15 18 Quantity (thousands of hours per month) 57) 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 do students work? A) 12,000 hours B) 9,000 hours C) 6,000 hours D) None of the above answers is correct. 58) The figure above shows the demanor 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
Transcribed Image Text:20 Wage rate (dollars per hour) 16 16 12 8 4 0 3 6 9 12 S 15 18 Quantity (thousands of hours per month) 57) 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 do students work? A) 12,000 hours B) 9,000 hours C) 6,000 hours D) None of the above answers is correct. 58) The figure above shows the demanor 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
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