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FIGURE 14- 2

Question 21

Multiple Choice

FIGURE 14- 2 FIGURE 14- 2 -Refer to Figure 14- 2.Suppose the labour market is perfectly competitive.If a minimum wage of W4 is then established,the predicted change in the wage is A) a decrease in the wage paid. B) an increase in the wage paid. C) no change in the wage paid. D) an increase equal to W1 - W4. E) a decrease equal to W1 - W4.
-Refer to Figure 14- 2.Suppose the labour market is perfectly competitive.If a minimum wage of W4 is then established,the predicted change in the wage is


A) a decrease in the wage paid.
B) an increase in the wage paid.
C) no change in the wage paid.
D) an increase equal to W1 - W4.
E) a decrease equal to W1 - W4.

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