Figure 3.4 In Figure 3.4, the reason for the wage differential could be the fact that

Individual states may set their own minimum wage

The labor demand curve slopes ____, showing that the higher the price of labor, the ____ labor the firm will demand.

Table 1.2 Price per Unit Quantity Demanded Quantity Supplied $5 320 50 $10 260 150 $15 200 200 $20 140 250 $25 100 300 $30 50 350 $35 10 400 In Table 1.2, what is the equilibrium quantity?

A situation where something is outlawed or prohibited is called a

Table 1.1 Price per Unit Quantity Demanded Quantity Supplied $60 22 115 $50 33 95 $40 44 75 $30 55 55 $20 66 35 $10 77 15   In Table 1.1, if the price is $40, a _____ of ______ units will occur.

Table 2.3Table 2.3Price per LoafQuantity DemandedQuantity Supplied$5$4$3$2$1  30  48  66  84102102  84  66  48  30According to the data in Table 2.3, equilibrium in the bread market occurs at which price and quantity supplied?

Table 1.1 Price per Unit Quantity Demanded Quantity Supplied $60 22 115 $50 33 95 $40 44 75 $30 55 55 $20 66 35 $10 77 15   In Table 1.1, if the price is $10, a _____ of ______ units will occur.

Table 1.1 Price per Unit Quantity Demanded Quantity Supplied $60 22 115 $50 33 95 $40 44 75 $30 55 55 $20 66 35 $10 77 15   In Table 1.1, if the price is $50, a _____ of ______ units will occur.

If a price ceiling results in the price not being used to allocate a scarce resource or good, then