Use the figure below to answer the following questions. 
Figure 17.3.2
-Refer to Figure 17.3.2.Suppose this labour market is initially in a monopsony situation and then the government introduces a minimum wage of $16 per hour.Choose the correct statement.
A) The wage rate does not change,but employment decreases.
B) The wage rate does not change,and employment stays the same.
C) The wage rate rises to $16 per hour,and employment increases.
D) The wage rate rises to $16 per hour,and employment decreases.
E) The wage rate rises to $16 per hour,and employment does not change.
Correct Answer:
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