Multiple Choice

-In the above figure suppose a minimum wage of $16 per hour is imposed. As a result, the quantity of labor supplied is ________ hours and the quantity of labor demanded is ________ hours.
A) 3,000; 4,000
B) 4,000; 4,000
C) 2,000; 4,000
D) 4,000; 2,000
Correct Answer:
Verified
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