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

question 18

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 Q_D = 1000 - 20(w) .The labour supply curve is Q_S = 400 + 40(w) .What is the equilibrium level of employment?

• A)20
• B)40
• C)400
• D)800
• E)1000

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Definitions:

Liquidating a Partnership

The process of terminating a partnership by selling off assets, paying off creditors, and distributing the remaining assets to partners.

Divide Profits

The process of allocating earnings among shareholders, partners, or other stakeholders according to their ownership interests or agreement terms.

Remaining Cash

The amount of cash a business has after all expenses and distributions have been made.

Revaluation

The process of adjusting the book value of an asset to reflect its current market value.