Writing_Assignment 2_Week 2

Writing_Assignment 2_Week 2 - reasonable amount The problem...

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Writing Assignment 2 Week 1 Problem 4-14 Chapter 4 A) The quantity of labor supplied will decreased. B) The quantity of labor demanded by fast-food producer will increased. C) The number of unemployed fast-food workers in this city will increase. Price Floor purpose applied in the labor market is to make sure that people are paid a
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Unformatted text preview: reasonable amount. The problem is that the low price creates an excess supply of workers or unemployment. As a result of the high price, workers want more hours and employers want to hire fewer workers. Since the supply is greater than the demand, there is a surplus of workers ....
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This note was uploaded on 02/28/2012 for the course ECON EC311 taught by Professor Zahid during the Spring '12 term at ITT Tech San Dimas.

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