Table 2 Wage rate (indollars) Quantity demanded quantitysupplied 5.00 600 300 5.

ID: 1233906 • Letter: T

Question

Table 2

Wage rate (indollars) Quantity demanded quantitysupplied

5.00 600 300

5.50 500 350

6.00 400 400

6.50 300 450

7.00 200 500

7.50 100 550

Table 2 shows the demand and the supply schedules for thestudent workers at on campus venues

What is the equilbrum wage rate of students workers and what isthe equilibrium number of students employed

Is the market of student workers at on campus venuesefficient

If the college introduces a min wage of 5.50 an hour how manystudents are employed at on campus venues and how many areunemployed ?

If the college introduces a minimum wage of 6.50 an hour, howmany students are employed at on campus venues and how many areunemployed

Is the min wage of 6.50 an hour efficient . is it fair

Who gains and who loses from the min wage of 6.50 an hour

What is the equilbrum wage rate of students workers and what isthe equilibrium number of students employed

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.