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Choose the statement that is correct An unregulated labor market cannot allocate

Choose the statement that is correct.

A. An unregulated labor market cannot allocate the​ economy's scarce labor resources to the jobs in which they are valued most highly.

B. The marginal social benefit from labor to workers is leisure forgone.

C. In a labor market with an effective minimum​ wage, the marginal social benefit of labor is greater than its marginal social cost.

D. The minimum wage results in decreased job search

18..

Complete the sentence.

In the labor​ market, the supply curve measures the marginal social cost of labor to​ _______, and the demand curve measures the​ _______.

A.

​firms; marginal social benefit from labor

B.

​workers; marginal social benefit from labor

C.

​workers; consumer surplus earned by the people who buy the goods produced

D.

​firms; consumer surplus earned by the people who buy the goods produced

Feb 01 2020 View more View Less

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