In the above figure, at what minimum wage is the unemployment level equal to 200 million hours? Select one: a. $24 per hour O b. $12 per hour O c. $6 per hour d. $18 per hour
In the above figure, at what minimum wage is the unemployment level equal to 200 million hours? Select one: a. $24 per hour O b. $12 per hour O c. $6 per hour d. $18 per hour
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:24
21
18
W12
6.
6.
3
100
Labor (millions of hours per month)
200
300
400
In the above figure, at what minimum wage is the unemployment level equal to 200 million hours?
Select one:
a. $24 per hour
Ob. $12 per hour
O c. $6 per hour
O d. $18 per hour
Wage (dollars per hour)
512
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