Multiple Choice
Suppose that the demand for labour is given by P = 30 - Q and the supply of labour is given by P =
2Q. Which of the following is not true if a minimum wage of 24 is imposed on the labour market?
A) the dead weight loss will be 24.
B) the dead weight loss will be 30.
C) labour supply will be 12.
D) labour demand will be 6.
Correct Answer:
Verified
Correct Answer:
Verified
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