Suppose There Is a Competitive Market for Retail Workers at a Large

question 6

Multiple Choice

Suppose there is a competitive market for retail workers at a large shopping mall that is large enough to constitute its own labour market. The labour demand curve is QD = 1000 - 20(w) . The labour supply curve is QS = 400 + 40(w) . Suppose that a union now successfully organizes the workers at this mall and obtains a wage rate of $11 (but does not affect the demand curve) . The number of workers employed after unionization is .

• A) 880
• B) 780
• C) - not determinable from the information provided
• D) 400
• E) 1000

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Definitions:

Upanishads

South Asian religious texts of ca. 800–500 BC that introduced the concepts of samsara, karma, and moksha.

Rebirths

Conceptual or spiritual renewals or transformations, often referring to ideas of reincarnation in religions or metaphorical new beginnings.

Self-Discipline

The ability to control one's feelings and overcome one's weaknesses; the ability to pursue what one thinks is right despite temptations to abandon it.

Chaitya Halls

Rock-cut temple halls found in Indian Buddhism, containing a stupa and often characterized by an apsidal end.