Answer:
a) lower than
decrease
Surplus
Explanation:
The question isn't complete. Here is the full question:
Suppose that the equilibrium wage for teachers in Michigan is $15/hour. Also suppose that Michigan raises its minimum wage to $18/hour. Because the equilibrium wage for teachers is (a) lower than or higher than the new minimum wage, we would expect the number of teachers employed to (b) increase, decrease, or stay the same at the new minimum wage. there will be (c) a shortage, a surplus, or no change in the number of teachers.
The equilibrium wage ($15) is less than the new minimum wage ($18).
As a result of this, it would become more expensive for schools to hire teachers, as a result the demand for teachers would fall. This is in line with the law of demand which states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Also, because the minimum wage is above the Equilibriium price , the supply of teachers would increase. This would lead to a surplus in the number of teachers. This is in line with the law of supply which states that the higher the price, the higher the quantity supplied and the lower the price , the lower the quantity supplied.
I hope my answer helps you
Answer:hi
Explanation:
The format for the equation of a circle is (x-h)^2+(y-k)^2=r^2, where (h,k) is your center and r is your radius. All we have to do is substitute the correct values, giving us the equation (x+2)^2+(y-1)^2=4
Answer:
97 days
Explanation:
In simple interest method, the interest is calculated by the following formula
I= P x R x T
I= interest
P = principal amount
R =interest rate
T= Time
In this case
I=$16
P=$1500$
R= 4% or 0.04%
T= time
$16= $1500 x 0.04 x Time
$16 =60 x Time
Time = 16/60
time = 0.2666 year.
time in days = 0.26666 x 365 days
=97.333 days
=97 days
