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 true if a minimum wage of 24 is imposed on the labour market?
A) the number of people laid off will be 4
B) the number of people laid off will be 12
C) the number of people laid off will be 6
D) the number of people laid off will be 2
Correct Answer:
Verified
Correct Answer:
Verified
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