2. The minimum wage of $8 an hour is above the equilibrium wage rate, so 3,000 pickers are employed (determined by the demand) and 5,000 people would like to work as pickers for $8 an hour (determined by the supply), so 2,000 are unemployed (Figure 2 ). If a black market developed, the lowest wage that someone might be able to earn would be $4 an hour (Figure 2 ).