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6. The following table gives the demand and supply for cashiers in retail stores. Wage Rate ( $ ) 3.00 4.00 5.00 6.00 7.00 8.00
6. The following table gives the demand and supply for cashiers in retail stores. Wage Rate ( $ ) 3.00 4.00 5.00 6.00 7.00 8.00 9.00 Number of Cashiers Demanded 200 I00 I70 I50 I30 IIO 80 Number of Cashiers Supplied 70 I00 l20 I50 I60 I75 I90 Problems 135 Plot the supply and demand curves. . What are the equilibrium wage and employment levels in this market? c. Suppose the number of cashiers demanded increases by 30 at every wage rate. Plot the new demand curve. What are the equilibrium wage and employment level now? we . From the original demand function in Problem 6 (see table), how many cashiers would have jobs if the wage paid were $8.00 per hour? Discuss the implications of an $8 wage in the market for cashiers
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