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-The Above Figure Illustrates the Labour Market for Fast Food

Question 124

Multiple Choice

-The above figure illustrates the labour market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $5.50 per hour? A) Unemployment will be equal to 400 hours. B) A shortage of 400 hours. C) Unemployment will be equal to 200 hours. D) Nothing because the minimum wage has no effect on the equilibrium price and quantity
-The above figure illustrates the labour market for fast food restaurants in a small city in Peru. What would be the effects of a minimum wage imposed at $5.50 per hour?


A) Unemployment will be equal to 400 hours.
B) A shortage of 400 hours.
C) Unemployment will be equal to 200 hours.
D) Nothing because the minimum wage has no effect on the equilibrium price and quantity

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