Refer to the graph shown. If government establishes a price floor of $7.25 per hour, there will be a:
A) shortage of 400 labor hours.
B) surplus of 400 labor hours.
C) shortage of 300 labor hours.
D) surplus of 300 labor hours.

Question

Refer to the graph shown. If government establishes a price floor of $7.25 per hour, there will be a: 
A) shortage of 400 labor hours. 
B) surplus of 400 labor hours. 
C) shortage of 300 labor hours. 
D) surplus of 300 labor hours.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. If government establishes a price floor of $7.25 per hour, there will be a: 
A) shortage of 400 labor hours. 
B) surplus of 400 labor hours. 
C) shortage of 300 labor hours. 
D) surplus of 300 labor hours.

Refer to the Graph Shown