Suppose the market for labor is perfectly competitive and the demand for labor is $L = 100 - 10 w$ and market supply is $L = - 20 + 10 w$ .If a minimum wage is imposed at w = 8,the loss to firms will be
A)20
B)40
C)60
D)80

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The Answer of Suppose the market for labor is perfectly competitive and the demand for labor is $L = 100 - 10 w$ and market supply is $L = - 20 + 10 w$ .If a minimum wage is imposed at w = 8,the loss to firms will be
A)20
B)40
C)60
D)80

Suppose the Market for Labor Is Perfectly Competitive and the Demand