Economics: Principles, Problems, and Policies, 19th Edition

by McConnell, Campbell R.; Brue, Stanley L.; Flynn, Sean M.

Published by McGraw-Hill Education

ISBN 10: 0073511447

ISBN 13: 978-0-07351-144-3

Chapter 13 - Wage Determination - Problems - Page 285: 4c

Answer

Yes. By ${$0.05}$.

Work Step by Step

From part (b), each worker brings in a revenue of ${$6.25}$/hour, but since the minimum wage is ${$6.20}$/hour, the revenue per hour in part (b) exceeds the minimum wage by $\$6.25-\$6.20=\$0.05$

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