Suppose That the Demand for Labour Is Given by P

question 95

Multiple Choice

Suppose that the demand for labour is given by P = 30 - Q and the Supply of labour is given by P =
2Q. If a minimum wage of 24 is imposed on the labour market, the deadweight loss is:

• A)24.
• B)2.
• C)6.
• D)20.

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Definitions:

Protein Molecule

A large, complex molecule made up of one or more chains of amino acids, essential for the structure, function, and regulation of the body's tissues and organs.

Polypeptide Chain

A single linear chain of amino acids bound together by peptide bonds, forming part of or the whole protein molecule.

Ionic Bonds

Chemical bonds formed between two ions with opposite charges through the transfer of electrons.

Amino Acids

Organic compounds that serve as the building blocks for proteins, containing both an amino group and a carboxyl group.