Question 4
figure: labor market 1
price per
hour
0 20 40 60 80 120 140 160 hours of work
(millions)
reference: ref 5-4 (8-4)
(figure: labor market 1) refer to the figure. if there is a price ceiling set at $6, how much shortage or surplus, if any, is there?
a. there is no shortage and no surplus.
b. 80 million hours
c. 60 million hours
od. 120 million hours
Answers: 3
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John's pizzeria and equilibrium john is selling his pizza for $6 per slice in an area of high demand. however, customers are not buying his pizza. using what you learned about the principles of equilibrium, write three to four sentences about how john could solve his problem.
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Question 4
figure: labor market 1
price per
hour
0 20 40 60 80 120 140 160...
figure: labor market 1
price per
hour
0 20 40 60 80 120 140 160...
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