Refer to the Graph Shown

question 131

Multiple Choice

Refer to the graph shown. Which of the following wage rates would be an effective price floor?

• A) $3.50
• B) $4.50
• C) $6.50
• D) $7.25

---

Definitions:

Projected Job Market

An estimate or forecast of the future demand for workers in certain fields or overall employment sectors.

Work Experience

The practical involvement and exposure gained in a specific field or job, typically used by individuals to enhance their credentials.

Location Preferences

The specific geographic or spatial choices individuals or entities make based on factors like convenience, desirability, or strategic importance.

Mediocre Work

Mediocre work refers to output that is of only moderate quality or not very good.