Solved

-The Above Figure Illustrates the Labour Market for Fast Food

Question 125

Multiple Choice

-The above figure illustrates the labour market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $4 per hour? A) A surplus of 200 hours B) A shortage of 100 hours C) A shortage of 200 hours D) Nothing because the minimum wage has no effect on the equilibrium price and quantity
-The above figure illustrates the labour market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $4 per hour?


A) A surplus of 200 hours
B) A shortage of 100 hours
C) A shortage of 200 hours
D) Nothing because the minimum wage has no effect on the equilibrium price and quantity

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q120: A tax is imposed on the sellers

Q121: A price ceiling is a price
A) above

Q122: -In the above</p></div><svg width=

Q123: A subsidy is a
A) tax imposed by

Q124: -The above figure</p></div><svg width=

Q126: Suppose the government imposes a price ceiling

Q127: Suppose the demand for wine is elastic

Q128: Consider the market for heart transplants. The

Q129: -The figure above</p></div><svg width=

Q130: A rent ceiling results in a shortage.

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents