Consider the labor market below. Suppose the government passes a minimum wage requiring employers to pay at least $8.00 per hour.
Prior to the imposition of the minimum wage, worker surplus is ______ per day, and after the imposition of the minimum wage, worker surplus is ______ per day.
A) $9,000; $1,000
B) $9,000; $5,000
C) $18,000; $2,000
D) $18,000; $14,000
Correct Answer:
Verified
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