-The labor demand and labor supply schedules are given in the table above.If a minimum wage of $11 per hour is imposed,
A) a surplus of 300 workers occurs.
B) there is no shortage or surplus of workers.
C) 900 workers are employed.
D) Both answers B and C are correct.
E) Both answers A and C are correct.

Question

-The labor demand and labor supply schedules are given in the table above.If a minimum wage of $11 per hour is imposed,
A) a surplus of 300 workers occurs. 
B) there is no shortage or surplus of workers. 
C) 900 workers are employed. 
D) Both answers B and C are correct. 
E) Both answers A and C are correct.

Quizplus · Accepted Answer

At a minimum wage of $11, the quantity of labor supplied exceeds the quantity of labor demanded, leading to a surplus of 300 workers.

-The Labor Demand and Labor Supply Schedules Are Given in the Table