Refer to the information provided in Figure 14.4 below to answer the questions that follow.
Figure 14.4
-Refer to Figure 14.4.A minimum wage of $12

Question

Refer to the information provided in Figure 14.4 below to answer the questions that follow.
  Figure 14.4
-Refer to Figure 14.4.A minimum wage of $12

Quizplus · Accepted Answer

According to the graph, setting a minimum wage of $12 would create a surplus of labor (i.e. unemployment) of 40 workers. This is because at the minimum wage of $12, the quantity of labor supplied (70) exceeds the quantity demanded (30), creating a surplus of 40 workers who are willing to work at that wage but cannot find employment.

Refer to the Information Provided in Figure 14