The following table lists the name, gender, height, and minimum wage 10 people are willing to accept to work as personal assistants at a prestigious law firm. Height Minimum Wage Name Gender (Inches) (Dollars per week) Neha F 66 $309 Simone F 64 $321 Ana F 68 $344 Rajiv M 70 $367 Yakov M 70 $390 Dina F 66 $402 Charles 71 $425 Lorenzo M 70 $448 Gilberto M 63 $460 Juanita F 68 $483 The lowest wage that the law firm can pay to hire five personal assistants is S per week. Suppose the head of the law firm has a preference for tall employees because he thinks it will increase revenue, and thus, he imposes the restriction that all personal assistants hired must be at least 67 inches in height. Under this new regulation, the wage rate the law firm must pay to attract five

The following table lists the name, gender, height, and minimum wage 10 people are willing to accept to work as personal assistants at a prestigious law firm. Height Minimum Wage Name Gender (Inches) (Dollars per week) Neha F 66 $309 Simone F 64 $321 Ana F 68 $344 Rajiv M 70 $367 Yakov M 70 $390 Dina F 66 $402 Charles 71 $425 Lorenzo M 70 $448 Gilberto M 63 $460 Juanita F 68 $483 The lowest wage that the law firm can pay to hire five personal assistants is S per week. Suppose the head of the law firm has a preference for tall employees because he thinks it will increase revenue, and thus, he imposes the restriction that all personal assistants hired must be at least 67 inches in height. Under this new regulation, the wage rate the law firm must pay to attract five

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter13: Factor Markets: With Emphasis On The Labor Market

Section13.1: Factor Market

Problem 2ST

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