The Data Shows the Market for Daycare Workers in a Particular

question 122

Multiple Choice

The data shows the market for daycare workers in a particular city:
(quantity of workers in hundreds)

-Refer to the information above to answer this question.What are the implications if this market is in equilibrium?

• A)The wage rate would be $5 an hour and there would be 400 unemployed daycare workers.
• B)The wage rate would be $5.50 an hour and there would be 200 unemployed daycare workers.
• C)The wage rate would be $6 an hour and there would be no unemployed daycare workers.
• D)The wage rate would be $6.50 an hour and there would be 200 unemployed daycare workers.
• E)The wage rate would be $5 an hour and there would be 1,300 unemployed daycare workers.

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Definitions:

Minor Children

Individuals under the age of majority, typically under 18, not having the full legal rights of adults.

Void

Having no legal force or effect; null and totally ineffective.

Breach of Contract

The omission of performing any clause of an agreement, whether written or orally communicated, without a defensible legal excuse.

Payments

The act of transferring money or other valuable consideration from one party to another as a fulfillment of a legal obligation or for the acquisition of goods or services.