The Diagram Below Shows the Supply and Demand for Labour

The diagram below shows the supply and demand for labour in a hypothetical town in northern British Columbia, with only one employer, a logging company. FIGURE 14- 4
-Refer to Figure 14- 4. Suppose this labour market is in a monopsonistic equilibrium. Then, suppose the provincial government of British Columbia imposes a minimum wage for employees in this industry of $38 per hour. What will be the effects on wages and employment?

A) wages will rise by $3 per hour and employment will fall by 125 units of labour.
B) wages will rise by $8 per hour and employment will fall below 750 units of labour
C) wages will rise by $8 per hour and employment will remain unchanged.
D) wages will rise by $8 per hour and employment will fall by between 0 and 250 units of labour.
E) wages will rise by $13 per hour and employment will fall below 750 units of labour.