Use the following to answer questions :
Figure 13-4
-If, in Figure 13-4 the employer increases all wages to $8, there are no workers who wish to work at a wage of $8 who can't get work.

Question

Use the following to answer questions :
Figure 13-4 
-If, in Figure 13-4 the employer increases all wages to $8, there are no workers who wish to work at a wage of $8 who can't get work.

Quizplus · Accepted Answer

If the employer increases all wages to $8, it is likely that the quantity of labor supplied exceeds the quantity of labor demanded at that wage, leading to some workers who wish to work at $8 but can't get work due to surplus labor.

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