Exhibit 16-1 Several Congressmen and Senators Have Been Greatly Concerned

Exhibit 16-1 Several congressmen and senators have been greatly concerned about the fairness of salaries in the marketplace.They are contemplating enacting a law that would fix the wage rate at W_A.Their aides,who were all excellent economics students,have returned with the results of an investigation into the matter,as portrayed below. Refer to Exhibit 16-1.If the law was to impose a wage rate of W_A on the K-12 teachers market:

A) the quantity of K-12 teachers demanded would decrease.
B) a surplus of K-12 teachers would soon result.
C) a quantity of Q₃ teachers would be supplied to the marketplace.
D) all of the above would occur.