Figure 28-4

-Refer to Figure 28-4.If the government imposes a minimum wage of $12,how many workers will be unemployed?

Name: Figure 28-4 -Refer to Figure 28-4.If the government imposes a minimum wage of $12,how many workers will be unemployed?
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Question

Figure 28-4
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-Refer to Figure 28-4.If the government imposes a minimum wage of $12,how many workers will be unemployed?

Quizplus · Accepted Answer

At a minimum wage of $12, there will be a surplus of labor as the quantity of labor supplied is 10,000 but only 6,000 jobs are demanded by the employers. Therefore, 4,000 workers will be unemployed.

Figure 28-4 ​

Figure 28-4