The table gives the demand and supply of teenage labor. Wage rate (dollars Quantity demanded Quantity supplied per hour) 6. (hours per month) 3,500 1,500 7 3,000 2,000 8. 2,500 2,500 9. 2,000 3,000 10 1,500 3,500 If a minimum wage is set at $9 an hour, what is the maximum value of resources used by the last teenager hired in job search? The maximum value of resources this teenager would use in job search is $ Type an hour.

The table gives the demand and supply of teenage labor. Wage rate (dollars Quantity demanded Quantity supplied per hour) 6. (hours per month) 3,500 1,500 7 3,000 2,000 8. 2,500 2,500 9. 2,000 3,000 10 1,500 3,500 If a minimum wage is set at $9 an hour, what is the maximum value of resources used by the last teenager hired in job search? The maximum value of resources this teenager would use in job search is $ Type an hour.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter10: Unemployment

Section10.4: Unions And Collective Bargaining

Problem 4QQ

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