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Figure 18-7 -Refer to Figure 18-7. If the Relevant Labor Supply Curve

question 546

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Figure 18-7 Figure 18-7 -Refer to Figure 18-7. If the relevant labor supply curve is S<sub>2</sub> and the current wage is W<sub>1</sub>, A) there is a surplus of labor. B) the quantity of labor demanded exceeds the quantity of labor supplied. C) an increase in the minimum wage could restore equilibrium in the market. D) firms will need to raise the wage to restore equilibrium.
-Refer to Figure 18-7. If the relevant labor supply curve is S2 and the current wage is W1,

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