Figure 9-1 -Refer to Figure 9-1.Based on the Graph of the Labor

question 217

Multiple Choice

Figure 9-1
-Refer to Figure 9-1.Based on the graph of the labor market above,if a minimum wage of $8 per hour is imposed,which of the following will result?

• A)The quantity of labor demanded by firms will rise.
• B)The quantity of labor demanded by firms will fall.
• C)The unemployment rate will fall.
• D)Both A and C will occur.

---

Definitions:

Diet Pepsi

A low-calorie carbonated soft drink produced by PepsiCo, branded as a healthier alternative to regular Pepsi.

Beverages

Drinkable liquids excluding water, such as tea, coffee, soda, and alcohol.

Corporate Taxation

The tax levied by governments on the profits earned by corporations, affecting their net income and financial decisions.

Monopolist

A single seller in a market with no close substitutes for the product, giving the seller considerable control over prices.