Use the Table Below to Answer the Following Questions

question 41

Multiple Choice

Use the table below to answer the following questions.
Table 6.2.1

-Table 6.2.1 gives the supply and demand schedules for teenage labour in Genoa City. In an unregulated market,

• A)there is no teenage unemployment and the wage rate is $6 per hour.
• B)there is no teenage unemployment and the wage rate is $5 per hour.
• C)teenage unemployment is 400 hours and the wage rate is $6 per hour.
• D)teenage unemployment is 400 hours and the wage rate is $5 per hour.
• E)the minimum wage is $7 per hour.

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Definitions:

Spending Variance

The difference between the actual cost incurred for something and the expected cost according to a budget.

Tenant-Days

A metric used in real estate to quantify the number of days a property is rented out.

Revenue Variance

The difference between the actual revenue earned and the budgeted or forecasted revenue.

Client-Visits

The number of times clients go to a business or service provider's location within a specified period.