-The figure above shows the labor market in a region.If a minimum wage of $8 an hour is imposed,then there are ________ unemployed workers.
A) 20,000
B) 40,000
C) 60,000
D) 80,000
E) zero

Question

-The figure above shows the labor market in a region.If a minimum wage of $8 an hour is imposed,then there are ________ unemployed workers.
A) 20,000 
B) 40,000 
C) 60,000 
D) 80,000 
E) zero

Quizplus · Accepted Answer

A minimum wage set above the equilibrium wage creates a surplus of labor, leading to unemployment. The number of unemployed workers is the difference between the quantity of labor supplied and the quantity of labor demanded at the $8 wage level, which is 40,000.

-The Figure Above Shows the Labor Market in a Region