ZuoTi.Pro
Question

Suppose there are 100,000 cashiers in Kansas earning a wage of $10 per hour. If the...

Suppose there are 100,000 cashiers in Kansas earning a wage of $10 per hour. If the minimum wage in Kansas is raised to $12 per hour, how many cashiers will be employed following the 20% increase in the wage?

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Minimum wage is increased 20%. $ (10 + 10x 200 = $12 Previously 1oo, ooo carrers there were wage was $10. Total cost on carri

0 0
Add a comment
Know the answer?
Add Answer to:
Suppose there are 100,000 cashiers in Kansas earning a wage of $10 per hour. If the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 3. In 1996, Congress raised the minimum wage from $4.25 per hour to $5.15 per hour,...

    3. In 1996, Congress raised the minimum wage from $4.25 per hour to $5.15 per hour, and then raised it again in 2007. Some people suggested that a government subsidy could help employers finance the higher wage. This exercise examines the economics of a minimum wage and wage subsidies. Suppose the supply of low-skilled labor is given by LS = 10w, where LS is the quantity of low-skilled labor, and w is the wage rate. The demand for labor is...

  • Problems & Applications (Ch 06) Suppose the minimum wage is $6 per hour in the market...

    Problems & Applications (Ch 06) Suppose the minimum wage is $6 per hour in the market for unskilled labor, as shown on the following graph Use the grey point (star symbol) to indicate the market equilibrium wage and quantity of labor in the absence of a minimum wage. Then use the purple point (diamond symbol) to indicate the level of employment at the minimum wage provided, and use the orange point (square symbol) to indicate the quantity of labor supplied...

  • Suppose that the equilibrium wage for teachers in Indiana is $15/hour. Also suppose that Indiana raises...

    Suppose that the equilibrium wage for teachers in Indiana is $15/hour. Also suppose that Indiana raises its minimum wage to $10/hour. Because the equilibrium wage for teachers is (a) the new minimum wage, we would expect the number of teachers employed to (b) at the new minimum wage. (c) There will be of teachers.

  • Suppose the market equilibrium wage is $13.00 an hour, and the minimum wage is currently $10.00...

    Suppose the market equilibrium wage is $13.00 an hour, and the minimum wage is currently $10.00 an hour. 1st attempt ♡ Hint X ♡ See Hint Deciding whether a price floor is binding or nonbinding is the first step in determining how it will affect the market. Does this increase in the minimum wage lead to a binding or a nonbinding price floor? (a) An increa looking for jobs. of people (b) The quantity of labor demanded would . ....

  • The national minimum wage is $7.25 per hour for most occupations in the private sector. Over...

    The national minimum wage is $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the minimum wage from the current federal...

  • The United States of America’s national minimum wage is currently at $7.25 per hour for most...

    The United States of America’s national minimum wage is currently at $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the...

  • 1) Suppose the Federal current minimum wage, $7.50 per hour, is above the equilibrium wage in...

    1) Suppose the Federal current minimum wage, $7.50 per hour, is above the equilibrium wage in the market for unskilled labor. and that the equilibrium wage in this market is $7.25/hr. Draw a supply and demand diagram showing this market for unskilled labor. Label the price axis (“Wage/Hour”), the quantity of unskilled labor axis (“Quantity”), the demand curve (“D0”), the supply curve (“S0”), the equilibrium wage ($7.25/ hr), and the equilibrium quantity (“Q0”). 2) On the same diagram, show the...

  • From time to time, the government has raised the minimum wage. Some people suggested that a...

    From time to time, the government has raised the minimum wage. Some people suggested that a government subsidy could help employers finance the higher wage. This example examines the economics of a minimum wage and wage subsidies. Suppose the supply of labor given by Ls=10W, where Ls is the quantity of labor (in millions of persons employed each) and w is the wage rate (in dollars per hour). The demand for labor is given by Ld= 80-10W. a) What will...

  • The national minimum wage is $7.25 per hour for most occupations in the private sector. Over...

    The national minimum wage is $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the minimum wage from the current federal...

  • Part II Suppose that Chilhong's total time endowment is 24 hours and the given wage rate is W 10,000 per hour....

    Part II Suppose that Chilhong's total time endowment is 24 hours and the given wage rate is W 10,000 per hour. Draw Chilhong's budget line in a diagram with leisure and labor supply on the horizontal axis and income per day on the vertical axis. Say Chilhong chooses to earn W 100,000 per day. How much is Chilhong's leisure at the equilibrium? 1. 2. How much is Chilhong's labor supply at the equilibrium? Now suppose there is a negative income...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT