Table 4-7 Table 4-7 Shows the Demand and Supply Schedules

question 157

Multiple Choice

Table 4-7
Table 4-7 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-7. If a minimum wage of $12.50 is mandated, there will be a

• A) shortage of 40,000 units of labor.
• B) surplus of 40,000 units of labor.
• C) shortage of 80,000 units of labor.
• D) surplus of 80,000 units of labor.

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