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-The Above Figure Illustrates the Labor Market for Fast Food

Question 159

Multiple Choice

-The above figure illustrates the labor market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $4 per hour? A) a shortage of 200 hours B) a shortage of 100 hours C) a surplus of 200 hours D) nothing because the minimum wage has no effect on the equilibrium price and quantity
-The above figure illustrates the labor market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $4 per hour?


A) a shortage of 200 hours
B) a shortage of 100 hours
C) a surplus of 200 hours
D) nothing because the minimum wage has no effect on the equilibrium price and quantity

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