Figure 28-4
-Refer to Figure 28-4. If 4,000 workers are unemployed, then the minimum wage must be

Name: Figure 28-4 -Refer to Figure 28-4. If 4,000 workers are unemployed, then the minimum wage must be
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Question

Figure 28-4 
-Refer to Figure 28-4. If 4,000 workers are unemployed, then the minimum wage must be

Quizplus · Accepted Answer

The minimum wage must be set above the equilibrium wage to cause unemployment. If 4,000 workers are unemployed, the minimum wage is likely set at $6, which is above the equilibrium wage, causing a surplus of labor (unemployment).

Figure 28-4 -Refer to Figure 28-4. If 4,000 Workers Are Unemployed, Then