II Discrimination and Minimum Wage Laws Walter Williams, an economist and columnist, was quoted in

the Wall Street Journal as saying, “The brunt of the minimum wage law is borne by low-skilled workers . . .
particularly black teenagers.” In this chapter, we have found that discrimination in competitive labor markets is usually costly to employers and that minimum wage laws can create a labor surplus in competitive labor markets. Use these two ideas to explain the logic behind Williams’s comment. (Hint: Think about the effects that a surplus has on the costs of discriminating.)

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(a) Market for Math Teachers Wage Rate per Year (thousands of dollars) 40 35 30 25 20 15 10 5 S D2 D 0 10 20 30 40 50 60 70 80 90 100 Quantity (number of math teachers) (thousands) (b) Market for English Teachers Wage Rate per Year (thousands of dollars) 40 30 20 15 33325 10 5 0 S D 10 20 30 40 50 60 70 80 90 100 Quantity (number of English teachers) (thousands)