-The Figure Above Shows the Demand for and Supply of Labor

question 86

Multiple Choice

-The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $8 per hour, how many hours of students' labor are unemployed?

• A) 12,000 hours
• B) 9,000 hours
• C) 6,000 hours
• D) 0 hours

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Definitions:

Platform Capitalism

The use of digital infrastructure that enables two or more groups (typically, users and providers of a service) to interact, which is the basis of the on-demand, sharing, and gig economies.

Benefits

Advantages or positive outcomes that arise from a particular course of action, providing value to individuals or organizations.

Training

The process of enhancing the skills, capabilities, and knowledge of employees for the specific purpose of increasing the effectiveness and efficiency of the organization.

Alternative Work Arrangements

Employment setups divergent from traditional models, often including remote work, flexible hours, and contract-based tasks.