are provided with the demand and supply curves for labor. You wil ation to analyze the effect of a minimum wage set above the equilib e. You will identify whether the minimum wage creates a shortage bor, and identify the size of this shortage or surplus. You will also changes in consumer surplus, producer surplus, and total surplu fter the minimum wage is introduced. Hourly Wage $14 Supply $12 $10 $8 $6 $4 Demand $2 500 1,000 1,500 2,000 2,500 3,000 3,500 Hours of Work the equilibrium hourly wage and the number of hours of la