Figure 10-1

-Refer to Figure 10-1. If the government imposes a minimum wage of $4, then how many workers will be unemployed?

Name: Figure 10-1 -Refer to Figure 10-1. If the government imposes a minimum wage of $4, then how many workers will be unemployed?
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Question

Figure 10-1
 
-Refer to Figure 10-1. If the government imposes a minimum wage of $4, then how many workers will be unemployed?

Quizplus · Accepted Answer

If the minimum wage is set at $4, which is below the equilibrium wage, there will be no unemployment caused by the minimum wage, as the market wage will adjust to the equilibrium level.

Figure 10-1 -Refer to Figure 10-1. If the Government Imposes a Minimum