Suppose that a government law required both groups of workers to be paid $22.50 an hour. Draw

Question:

Suppose that a government law required both groups of workers to be paid

$22.50 an hour. Draw a graph to illustrate what would happen to the quantities employed of the two types of labor.

Use the following information to work Problems 5 and 6.


In the United States in 2002, 130,000 aircraft mechanics and service technicians earned an average of $20 an hour whereas 30,000 elevator installers and repairers earned an average of $25 an hour. The skill and training for these two jobs are very similar.

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Related Book For  book-img-for-question

Foundations Of Microeconomics

ISBN: 9780132830881

6th Edition

Authors: Robin Bade, Michael Parkin

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