Table 4-4

Table 4-4 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-4.If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor demanded?

Question

Table 4-4
  
Table 4-4 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-4.If a minimum wage of $12.50 an hour is mandated, what is the quantity of labor demanded?

Quizplus · Accepted Answer

Looking at the demand schedule, at a wage of $12.50, the quantity demanded is 550,000. This is where the wage level intersects with the demand curve.

Table 4-4 Table 4-4 Shows the Demand and Supply Schedules for the and Supply