Figure 15-1
-Refer to Figure 15-1. If the government imposes a minimum wage of $8, then how many workers will be unemployed?

Question

Figure 15-1 
-Refer to Figure 15-1. If the government imposes a minimum wage of $8, then how many workers will be unemployed?

Quizplus · Accepted Answer

At a minimum wage of $8, the quantity demanded of labor is 6,000 while the quantity supplied of labor is 2,000. There is a surplus of 4,000 workers who are willing to work but unable to find jobs, resulting in unemployment. Therefore, the correct choice is C.

Figure 15-1 -Refer to Figure 15-1. If the Government Imposes a Minimum