Figure 28-4
-Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed?

Name: Figure 28-4 -Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed?
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Question

Figure 28-4 
-Refer to Figure 28-4. If the government imposes a minimum wage of $5, how many workers will be unemployed?

Quizplus · Accepted Answer

A minimum wage of $5 creates a surplus of labor, where the quantity of labor supplied exceeds the quantity of labor demanded, resulting in 4,000 workers being unemployed.

Figure 28-4 -Refer to Figure 28-4. If the Government Imposes a Minimum