The solution to the system of the equations p = − 0.325 x + 5.8 and p = 0.375 x + 3 . Then determine the equilibrium number of workers and equilibrium hourly wage.
The solution to the system of the equations p = − 0.325 x + 5.8 and p = 0.375 x + 3 . Then determine the equilibrium number of workers and equilibrium hourly wage.
Solution Summary: The author calculates the equilibrium number of workers and equilibrium hourly wage by subtracting the value of p from the demand and supply equations.
To calculate: The solution to the system of the equations p=−0.325x+5.8 and p=0.375x+3. Then determine the equilibrium number of workers and equilibrium hourly wage.
(b)
To determine
To fill: The blank spaces in the statement, “If workers are paid_______ per hours, there will be ______ million available workers and ______ million workers will be hired”.
(c)
To determine
To calculate: The number of workers employers will hire in 2007 according to the demand model p=−0.325x+5.8 if the federal minimum wage in 2007 was $5.15 per hour.
(d)
To determine
To calculate: The number of workers available in 2007 according to the supply model p=0.375x+3 if the federal minimum wage in 2007 was $5.15 per hour.
(e)
To determine
To calculate: The number of more workers looking for work than employers are hiring as per the minimum wage $5.15 per hour.
Solve the equation. Write the smaller
answer first.
2
(x-6)²
= 36
x =
Α
x =
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Write a quadratic equation in
factored form that has solutions of x
=
2 and x = = -3/5
○ a) (x-2)(5x + 3) = 0
○ b) (x + 2)(3x-5) = 0
O
c) (x + 2)(5x -3) = 0
○ d) (x-2)(3x + 5) = 0
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