Use the Figure Below to Answer the Following Questions

question 2

Multiple Choice

Use the figure below to answer the following questions. Figure 17.3.2
-Refer to Figure 17.3.2.Suppose this labour market is initially in a monopsony situation and then the government introduces a minimum wage of $16 per hour.Choose the correct statement.

• A)The wage rate does not change,but employment decreases.
• B)The wage rate does not change,and employment stays the same.
• C)The wage rate rises to $16 per hour,and employment increases.
• D)The wage rate rises to $16 per hour,and employment decreases.
• E)The wage rate rises to $16 per hour,and employment does not change.

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Definitions:

Left-Handed

The preference for using the left hand for tasks such as writing and other activities, due to the brain's hemispheric dominance for motor skills.

Males

The sex that is typically characterized by the XY chromosome configuration in humans and other species, often associated with specific physiological and reproductive functions.

Females

Refers to the sex that can bear offspring or produce eggs, distinguished biologically by the production of gametes (ova), which can be fertilized by male gametes.

Sympathetic Division

A part of the autonomic nervous system that stimulates the body's fight or flight response.