Use the following to answer questions:
Figure: Minimum Wage
-(Figure: Minimum Wage) Refer to the figure. How many workers are unemployed at a minimum wage of $8?

Question

Use the following to answer questions:
Figure: Minimum Wage 
-(Figure: Minimum Wage) Refer to the figure. How many workers are unemployed at a minimum wage of $8?

Quizplus · Accepted Answer

At a minimum wage of $8, the quantity of labor supplied is greater than the quantity of labor demanded, resulting in a surplus of workers or unemployment. From the graph, we can see that the surplus is 20 workers. Therefore, the best choice is B.

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