$17.00 $16.00 $15.00 $14.00 $13.00 $12.00 $1100 $10.00 3 $9.00 E S8.00 $7 00 56 00 $5.00 5400 $3.00 $2.00 $100 Demand Supply Quantity of tabor (millions) At the equilibrium, what is: a Price? b Quantity supply?, Quantity demand? Suppose the government decides to pass a law to help control the price of labor. They set a new hourly wage price at $13. All employers must pay no less than $13 (though they can pay MORE if they want to). d. What kind of price control is this? What is the quantity demand of labor at this price? f What is the quantity supplied of labor at this price? g How did the quantity demand of labor change with this new price? h How did the quantity supplied of labor change with this new price? 1. e. Are there too many workers available now or too few? (oad) em Aanon
$17.00 $16.00 $15.00 $14.00 $13.00 $12.00 $1100 $10.00 3 $9.00 E S8.00 $7 00 56 00 $5.00 5400 $3.00 $2.00 $100 Demand Supply Quantity of tabor (millions) At the equilibrium, what is: a Price? b Quantity supply?, Quantity demand? Suppose the government decides to pass a law to help control the price of labor. They set a new hourly wage price at $13. All employers must pay no less than $13 (though they can pay MORE if they want to). d. What kind of price control is this? What is the quantity demand of labor at this price? f What is the quantity supplied of labor at this price? g How did the quantity demand of labor change with this new price? h How did the quantity supplied of labor change with this new price? 1. e. Are there too many workers available now or too few? (oad) em Aanon
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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