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Questions 14 - 15: The following diagram shows the supply and demand in the labor market in Kentria. Wage 10 9 8 7 6 5 4 3 2 1 Labor Supply Labor Demand No of Workers 10 20 30 40 50 60 70 80 90 100 Q15. The government imposes a minimum wage of $7. The size of labor force is people, the number of people employed is. people unemployed is and the number of labor force = 70, employment = 50, unemployment = 20 labor force = 70, employment = 30, unemployment = 40 == labor force = 50, employment = 50, unemployment = 0 labor force = 50, employment = 30, unemployment = 20

Questions 14 - 15: The following diagram shows the supply and demand in the labor market in Kentria. Wage 10 9 8 7 6 5 4 3 2 1 Labor Supply Labor Demand No of Workers 10 20 30 40 50 60 70 80 90 100 Q15. The government imposes a minimum wage of $7. The size of labor force is people, the number of people employed is. people unemployed is and the number of labor force = 70, employment = 50, unemployment = 20 labor force = 70, employment = 30, unemployment = 40 == labor force = 50, employment = 50, unemployment = 0 labor force = 50, employment = 30, unemployment = 20

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Questions 14 - 15: The following diagram shows the supply and demand in the labor market in Kentria. Wage 10 9 8 7 6 5 4 3 2 1 Labor Supply Labor Demand No of Workers 10 20 30 40 50 60 70 80 90 100 Q15. The government imposes a minimum wage of $7. The size of labor force is people, the number of people employed is. people unemployed is and the number of labor force = 70, employment = 50, unemployment = 20 labor force = 70, employment = 30, unemployment = 40 == labor force = 50, employment = 50, unemployment = 0 labor force = 50, employment = 30, unemployment = 20
Transcribed Image Text:Questions 14 - 15: The following diagram shows the supply and demand in the labor market in Kentria. Wage 10 9 8 7 6 5 4 3 2 1 Labor Supply Labor Demand No of Workers 10 20 30 40 50 60 70 80 90 100 Q15. The government imposes a minimum wage of $7. The size of labor force is people, the number of people employed is. people unemployed is and the number of labor force = 70, employment = 50, unemployment = 20 labor force = 70, employment = 30, unemployment = 40 == labor force = 50, employment = 50, unemployment = 0 labor force = 50, employment = 30, unemployment = 20
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