Use the following to answer questions:
Figure: Labor Market 1 
-(Figure: Labor Market 1) If there is a price floor set at $9, how much deadweight loss is created, if any?
Definitions:
Flexible Budget
A budget that adjusts or varies with changes in the volume of activity, allowing for better control and analysis of performance by comparing actual costs to budgeted amounts at the actual activity level.
Credit Sales
Sales transactions in which the payment is delayed as agreed by both the seller and the buyer.
Cash Collection
The process of gathering all cash payments received from customers, often related to sales or services, improving a company's liquidity.
Budget Slack
The practice of underestimating revenue or overestimating costs while preparing a budget to create a buffer, which can be used to handle unforeseen financial situations.
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