Table 5.4 Table 5-4 shows the demand and supply schedules for labour market in the city of Pixley.
-Refer to Table 5.4.If a minimum wage of $12.50 an hour is mandated, the quantity of labour supplied is

Question

Table 5.4  Table 5-4 shows the demand and supply schedules for labour market in the city of Pixley.
-Refer to Table 5.4.If a minimum wage of $12.50 an hour is mandated, the quantity of labour supplied is

Quizplus · Accepted Answer

Looking at the table, we can see that at a wage rate of $12.50 an hour, the quantity of labour supplied is 630,000. This is the point where the supply curve intersects with the minimum wage line. Therefore, the correct choice is (C).

Table 54 Table 5-4 Shows the Demand and Supply Schedules