Suppose the Market for Labor Is Perfectly Competitive and the Demand

question 9

Multiple Choice

Suppose the market for labor is perfectly competitive and the demand for labor is and market supply is .If a minimum wage is imposed at W = 8,the net gain to all workers,not just those who keep their jobs,(in producer surplus terms) will be

• A) 10
• B) 20
• C) 30
• D) 40

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