FIGURE 14- 5
-Refer to Figure 14- 5. Suppose the labour market is competitive. If a minimum wage of W3 is then imposed, the number of unemployed workers would be

Name: FIGURE 14- 5 -Refer to Figure 14- 5. Suppose the labour market is competitive. If a minimum wage of W3 is then imposed, the number of unemployed workers would be
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The minimum wage of W3 creates a surplus of labour, resulting in unemployment of Q4 - Q2 workers.

FIGURE 14- 5 -Refer to Figure 14- 5. Suppose the Labour Market Is