The figure given below shows the demand and supply of unskilled labor that determines the equilibrium wage rate in the labor market.The minimum wage rate at $5.15 is higher than the equilibrium wage rate at $4.
-Refer to Figure 18-1.The increase in the number of workers looking for work in this market due to the imposition of a $5.15 minimum wage is _____.
A) L1L3
B) L2L3
C) OL1
D) L2L1
Correct Answer:
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