FIGURE 5-1 -Refer to Figure 5-1.If the diagram applies to the labour market,and P₃ represents a legislated minimum wage, A)there will be excess demand of AC in the labour market. B)there will be unemployment of AC in the labour market. C)the free-market equilibrium wage is P₀ and the labour market is unaffected by the minimum wage. D)the labour market is in disequilibrium. E)the amount of labour employed will rise from quantity F to quantity C.

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The Answer of FIGURE 5-1 -Refer to Figure 5-1.If the diagram applies to the labour market,and P₃ represents a legislated minimum wage, A)there will be excess demand of AC in the labour market. B)there will be unemployment of AC in the labour market. C)the free-market equilibrium wage is P₀ and the labour market is unaffected by the minimum wage. D)the labour market is in disequilibrium. E)the amount of labour employed will rise from quantity F to quantity C.

FIGURE 5-1 -Refer to Figure 5-1.If the Diagram Applies to the Labour