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The Table Below Shows the Labour Demand and Labour Supply

Question 97

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The table below shows the labour demand and labour supply schedules in a competitive labour market.
The table below shows the labour demand and labour supply schedules in a competitive labour market.    TABLE 14-1 -Refer to Table 14-1.In a competitive labour market,a legislated minimum wage imposed at $14 per hour would A) have no effect on the competitive equilibrium level of employment. B) have no effect on the competitive equilibrium wage. C) lead to unemployment of 500 hours/month. D) lead to unemployment of 300 hours/month. E) lead to an equilibrium wage lower than the competitive wage. TABLE 14-1
-Refer to Table 14-1.In a competitive labour market,a legislated minimum wage imposed at $14 per hour would


A) have no effect on the competitive equilibrium level of employment.
B) have no effect on the competitive equilibrium wage.
C) lead to unemployment of 500 hours/month.
D) lead to unemployment of 300 hours/month.
E) lead to an equilibrium wage lower than the competitive wage.

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