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