Please give me proper calculation and full explanation Note:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate The table gives the demand and supply of teenage labour.The minimum wage for teenagers is $7 an hour.How many hours are employed?If the demand for teenage labour increases by 500 hours a month, what is the wage rate andhow many hours are unemployed?When the minimum wage for teenagers is $7 an hour, the teenagers workand hours a month are unemployed.hours a monthWage rate(dollarsper hour)6789Quantity demanded Quantity supplied(hours per month)1,5001,00050001,5002,0002,5003,000

Labor demand:It refers back to the variety of laborers employed for production at a particular…

Answered: The table gives the demand and supply…

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter12: Income Distribution, Poverty, And Discrimination

Section12.5: Discrimination

Problem 2.1YTE

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Please give me proper calculation and full explanation

Note:-

Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.
Answer completely and accurate answer.
Rest assured, you will receive an upvote if the answer is accurate

The table gives the demand and supply of teenage labour.
The minimum wage for teenagers is $7 an hour.
How many hours are employed?
If the demand for teenage labour increases by 500 hours a month, what is the wage rate and
how many hours are unemployed?
When the minimum wage for teenagers is $7 an hour, the teenagers work
and hours a month are unemployed.
hours a month
Wage rate
(dollars
per hour)
6
7
8
9
Quantity demanded Quantity supplied
(hours per month)
1,500
1,000
500
0
1,500
2,000
2,500
3,000

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