-The figure above shows the labour market in a region. If a minimum wage of $8 an hour is imposed, then there are ________ unemployed workers.
A) 20,000
B) 80,000
C) zero
D) 40,000
E) 60,000

Question

-The figure above shows the labour market in a region. If a minimum wage of $8 an hour is imposed, then there are ________ unemployed workers.
A) 20,000 
B) 80,000 
C) zero 
D) 40,000 
E) 60,000

Quizplus · Accepted Answer

A minimum wage set above the equilibrium wage creates a surplus of labor, leading to unemployment. The number of unemployed workers is the difference between the quantity of labor supplied and the quantity of labor demanded at the minimum wage.

-The Figure Above Shows the Labour Market in a Region