Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN: 9781337517942
Author: NICHOLSON
Publisher: Cengage
Question
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Chapter 16, Problem 16.11P

a)

To determine

To find:

Equilibrium level of w and l

b)

To determine

To know:

Amount of subsidy, new equilibrium level and subsidy to be paid.

c)

To determine

To show:

Demand for labor and unemployment when minimum wage is $4.

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