Suppose a coal mine's workers can dig two tons of coal per hour and coal sells for $15 per ton. If the coal mine is the only hirer of miners in a local area and faces a labor supply curve of the form:  l = 50w. What is the equilibrium level of employment?  What is the wage paid to minors?

Microeconomics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter12: The Supply Of And Demand For Productive Resources
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Suppose a coal mine's workers can dig two tons of coal per hour and coal sells for $15 per ton. If the coal mine is the only hirer of miners in a local area and faces a labor supply curve of the form:  l = 50w.

What is the equilibrium level of employment?  What is the wage paid to minors?

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