Question

Congress passes a law that requires employers to provide health benefits to workers. Suppose this law results in a $3 per hour increase in the cost of hiring workers. The law is likely to ____ the demand for labor and _____ the equilibrium wage paid to workers.

Answer 1

Congress passes a regulation that calls for employers to provide health blessings to workers. assume this law results in a $3 in line with the hour boom in the cost of hiring employees. The regulation is possible to decrease the demand for hard work and decrease the equilibrium salary paid to employees.

Federal regulation states that 14-15 12 months olds cannot paint over 8 hours an afternoon, with no more than 3 hours on a faculty day, and over 40 hours per week, without more than 18 hours consistent with the week at the same time as in college. Minors also are not allowed to paint before 7 am or after 7 pm respectively.

Whilst a minimum-wage regulation forces the wage to stay above the level that balances supply and demand, it increases the amount of hard work supplied and decreases the number of exertions demanded as compared to the equilibrium level.

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