Question

100% Wed 12:53 PM uction to Microeconomics Question 5 Answer ved Marked out of Use the table below to answer the following questions Table 6.2.1 Wage Rate wantity supplied Quantity Dema (dollar per how theus per week) (he Table 5 2.1 gives the supply and demand schedules for teenage labour in Genoa City. There is a minimum wage set at $16 per hour. Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate. The result is Select one O A elimination of teenage unemployment and a wage rate of $17 per hour. B. some teenage unemployment with the wage rate remaining at $16 per hour. Celimination of teenage unemployment, but the wage rate remains at $10 per hour D. no change in teenage unemployment because the wage rate rises to $17 per hour E a surplus of teenage labour. Finish attempt Previous page MacBook Air

Answer 1