The following figure shows wage versus labor supply.
-Refer to the figure above.Assuming the supply for labor is equal to S₁ and the demand for labor is equal to D₂,how would a shift of the minimum wage from w₂ to w₃ affect unemployment?
A) It would decrease to zero unemployment.
B) It would increase from Q₄ − Q₂ to Q₅ − Q₁.
C) It would increase from zero unemployment to Q₅ − Q₂.
D) It would increase from zero unemployment to Q₄ − Q₂.
Correct Answer:
Verified
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