Graph 9-1 -The Government Has Introduced the Minimum Wage Law.The Minimum Wage

question 58

Multiple Choice

Graph 9-1
-The government has introduced the minimum wage law.The minimum wage is set at W₁ as shown in Graph 9-1.After introducing the minimum wage law, the quantity of labour supplied is _______

• A)L₀, the quantity of labour demanded is L₀ and the amount of unemployed labour is zero
• B)L₀, the quantity of labour demanded is L₁ and the amount of unemployed labour is L₀ - L₁
• C)L₂, the quantity of labour demanded is L₀ and the amount of unemployed labour is L₂ - L₀
• D)L₂, the quantity of labour demanded is L₁ and the amount of unemployed labour is L₂ - L₁

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