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 value of the resources used in job-search activity can be as large as ________ per hour.
A) $12,000
B) $8,000
C) $6,000
D) $4,000
E) $2,000

Question

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 value of the resources used in job-search activity can be as large as ________ per hour.
A) $12,000 
B) $8,000 
C) $6,000 
D) $4,000 
E) $2,000

Quizplus · Accepted Answer

The figure indicates that the maximum value of resources used in job-search activity can reach $12,000 per hour.

The Figure Above Shows Supply and Demand in the Market