Multiple Choice
The figure above shows supply and demand in the market for labor. The government introduces a minimum wage of $7 per hour.
-The figure above shows that the lowest wage rate for which someone is willing to work is
A) $3 an hour.
B) $5 an hour.
C) $6 an hour.
D) $7 an hour.
E) $4 an hour.
Correct Answer:
Verified
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