10 Wage rate (dollars per hour) 8 Price Floor 6 4 TDI 2 0 40 80 120 160 Quantity of labor (millions of hours per year) Answer the following questions: 2a. Is the price floor binding or non-binding? 2b. With the price floor, how many hours will be supplied? (Express answer in correct amount/units). 2c. With the price floor, how many hours will be demanded? (Answer in answer in correct amount/units). 2d. Is there a shortage, a surplus, or neither? 2e. In terms of number of hours, what is the size of the disequilibrium? (i.e. if it's a shortage, what is the amount of the shortage? if it's a surplus, what is the amount of the surplus? if neither, then the answer is 0). 2f. What is the size of deadweight loss? (If applicable, answer in millions of dollars). Blank # 1 A/ Blank # 2 A/ Blank # 3 A/ Blank # 4 Blank # 5 A/ Blank # 6