Use the Following to Answer Question

question 203

Multiple Choice

Use the following to answer question:
Figure: The Demand for Bricklayers
-(Figure: The Demand for Bricklayers) Use Figure: The Demand for Bricklayers.The equilibrium market wage for bricklayers is $100 a day,but there is a new minimum wage of $120.Therefore:

• A)3 workers who otherwise would have been employed by this firm are now unemployed.
• B)4 workers will now be hired by this firm.
• C)all bricklayers are better off.
• D)this firm will shut down.

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Definitions:

Frozen Meal Market

An economic sector focusing on the production, distribution, and sale of pre-prepared and quick-freeze meals to consumers.

Selection Process

The method by which individuals are screened and chosen for roles or tasks.

Samples

A subset of individuals or observations drawn from a population, used to make inferences or hypotheses about the population as a whole.

Population Variances

A measure of the spread or distribution of a set of data points in a population, indicating how much the values differ from the mean.