Business, 31.03.2020 20:52 arianaaldaz062002

In advance of the recent increase in the U. S. minimum wage rate, the government of the state of Arizona decided to boost its own minimum wage by $1.60 per hour. This pushed the wage rate earned by Arizona teenagers above the equilibrium wage rate in the teen labor market. What is the predicted effect of this action by Arizona's government on each of the following?
a. The quantity of labor supplied by Arizona teenagers
b. The quantity of labor demanded by employers of Arizona teenagers.
c. The number of unemployed Arizona teenagers
d. Please draw demand curve, supply curve and unemployment of question a, b and c on a graph.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 19:30

The usa today reports that the average expenditure on valentine's day is $100.89. do male and female consumers differ in the amounts they spend? the average expenditure in a sample survey of 47 male consumers was $135.67, and the average expenditure in a sample survey of 38 female consumers was $68.64. based on past surveys, the standard deviation for male consumers is assumed to be $34, and the standard deviation for female consumers is assumed to be $17.

Answers: 1

Answer

Business, 22.06.2019 22:50

Adding a complementary product to what is currently being produced is a demand management strategy used when: a. capacity exceeds demand for a product that has stable demand.b. price increases have failed to bring about demand management.c. demand exceeds capacity.d. demand exceeds 100 percent.e. the existing product has seasonal or cyclical demand.

Answers: 3

Answer

Business, 22.06.2019 23:50

When a market is in equilibrium, the buyers are those with the willingness to pay and the sellers are those with the costs.

Answers: 2

Answer

Business, 23.06.2019 02:40

Peter, the marketing manager of a company that manufactures church furniture, has been given the job of increasing corporate profits by five percent during the upcoming year. peter decided to give his assistant the full responsibility and authority for developing a mailing campaign to target churches in an entire state. in other words, peter has

Answers: 1

Answer

You know the right answer?

In advance of the recent increase in the U. S. minimum wage rate, the government of the state of Ari...

Questions