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The Data Shows the Market for Daycare Workers in a Particular

question 82

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The data shows the market for daycare workers in a particular city:
(quantity of workers in hundreds)
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.Suppose that after the imposition of a minimum wage of $6.50,a number of new daycare centres opened up increasing the demand for workers by 400.In what way would this market be affected? A) The wage would increase to $7 and there would be no unemployment. B) The wage would remain at $6.50 but there would now be no unemployment. C) The wage would remain at $6.50 and there would now be 200 unemployed daycare workers. D) The wage would remain at $6.50 and there would now be 200 vacancies. E) The wage would drop to $5 and there would be no unemployment.
-Refer to the information above to answer this question.Suppose that after the imposition of a minimum wage of $6.50,a number of new daycare centres opened up increasing the demand for workers by 400.In what way would this market be affected?

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Definitions:

Income Increase

A rise in the amount of money earned from various sources, including work, investments, or business operations.

Variable Costing

A costing method that includes only variable costs—costs that change with production levels—in the calculation of product costs.

Net Income

The total profit of a company after subtracting all expenses from total revenues, reflecting the company's financial performance over a given period.

Contribution Margin

The amount by which a product's sales price exceeds its total variable costs, used to cover fixed costs and generate profit.

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