-The labor demand and labor supply schedules are given in the table above.If a minimum wage of $9 per hour is imposed,
A) a surplus of 300 workers occurs.
B) a shortage of 300 workers occurs.
C) there is no surplus or shortage of workers.
D) the quantity demanded is 1,000 workers.
E) there is unemployment of 700 workers.

Question

-The labor demand and labor supply schedules are given in the table above.If a minimum wage of $9 per hour is imposed,
A) a surplus of 300 workers occurs. 
B) a shortage of 300 workers occurs. 
C) there is no surplus or shortage of workers. 
D) the quantity demanded is 1,000 workers. 
E) there is unemployment of 700 workers.

Quizplus · Accepted Answer

The Answer of 
-The labor demand and labor supply schedules are given in the table above.If a minimum wage of $9 per hour is imposed,
A) a surplus of 300 workers occurs. 
B) a shortage of 300 workers occurs. 
C) there is no surplus or shortage of workers. 
D) the quantity demanded is 1,000 workers. 
E) there is unemployment of 700 workers.

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