Use the Table Below to Answer the Following Questions

question 40

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. There is a minimum wage set at $6 per hour. Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate. The result is

• A)elimination of teenage unemployment and a wage rate of $7 per hour.
• B)elimination of teenage unemployment, but the wage rate remains at $6 per hour.
• C)some teenage unemployment with the wage rate remaining at $6 per hour.
• D)no change in teenage unemployment because the wage rate rises to $7 per hour.
• E)none of the above

---

Definitions:

Research Costs

Expenses associated with activities undertaken to discover new knowledge, develop new products or processes, without assurance of commercial success.

Expensed

Costs that are charged against income in the period they are incurred, rather than being capitalized and amortized over time.

Finite Life

Finite life refers to the fixed period during which an asset is expected to be useful before it becomes obsolete or its value is fully depreciated.

Intangible Assets

Non-physical assets that have value, such as patents, copyrights, trademarks, and goodwill.