-The Above Figure Shows the Market for Carpenters in Geelong

question 72

Multiple Choice

-The above figure shows the market for carpenters in Geelong. If there is a minimum wage set at $18, which of the following statements is true?

• A) Workers who retain their jobs have their wages rise.
• B) Firms' surplus increases with the minimum wage.
• C) The quantity supplied of workers is less that quantity demanded.
• D) The market is efficient.
• E) Unemployment decreases because firms employ their workers more carefully.

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