Table 4-7
Table 4-7 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-7. If a minimum wage of $11.50 is mandated, there will be a
A) shortage of 20,000 units of labor.
B) surplus of 20,000 units of labor.
C) shortage of 40,000 units of labor.
D) surplus of 40,000 units of labor.

Question

Table 4-7
  Table 4-7 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-7. If a minimum wage of $11.50 is mandated, there will be a
A) shortage of 20,000 units of labor. 
B) surplus of 20,000 units of labor. 
C) shortage of 40,000 units of labor. 
D) surplus of 40,000 units of labor.

Quizplus · Accepted Answer

The Answer of Table 4-7
  Table 4-7 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-7. If a minimum wage of $11.50 is mandated, there will be a
A) shortage of 20,000 units of labor. 
B) surplus of 20,000 units of labor. 
C) shortage of 40,000 units of labor. 
D) surplus of 40,000 units of labor.

Table 4-7 Table 4-7 Shows the Demand and Supply Schedules