The Following Questions Refer to the graph below.
-A minimum wage set at $12 per hour would result in a surplus of

Question

The Following Questions Refer to the graph below. 
-A minimum wage set at $12 per hour would result in a surplus of

Quizplus · Accepted Answer

At a minimum wage of $12 per hour, the quantity supplied would be 60 while the quantity demanded would be 40, resulting in a surplus of 20 (60-40=20). This is because at a higher wage rate, more workers will be willing to work but fewer employers will be willing to hire, resulting in a surplus of labor.

The Following Questions Refer to the Graph Below