Figure 28-3
-Refer to Figure 28-3.If the government imposes a minimum wage of $4,how many workers will be employed?
A)3,000
B)4,000
C)5,000
D)7,000

Name: Figure 28-3 -Refer to Figure 28-3.If the government imposes a minimum wage of $4,how many workers will be employed? A)3,000 B)4,000 C)5,000 D)7,000
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Question

Figure 28-3 
-Refer to Figure 28-3.If the government imposes a minimum wage of $4,how many workers will be employed?
A)3,000 
B)4,000 
C)5,000 
D)7,000

Quizplus · Accepted Answer

With a minimum wage of $4, the quantity of labor supplied increases to 5,000 and the quantity of labor demanded decreases to 5,000. At this equilibrium, 5,000 workers will be employed.

Figure 28-3 -Refer to Figure 28-3.If the Government Imposes a Minimum Wage