Back 6 This window shows your responses and what was marked correct and incorrect from your previous attempt Suppose the demand and supply curves for unskilled labor in the Corvallis labor market are as shown in the figure below a. By how much will the imposition of a minimum wage at $12 per hour reduce total economic surplus? Instructions: in the graph below, use the point tool to indicate the wage and employment combination that would result with a $12 per hour minimum wage Wmin: Then shade the areas of the resulting employer surplus Employer, worker surplus Worker, and the points awarded reduction in total surplus 'Loss by clicking the provided tools and dragging the corners of the shaded areas into the appropriate 5.68/12.5 Sorel places Your Graph Score: 25% W (S/hour) 20 16 12 Labor Market 4,000 8,000 12,000 16,000 20,000 24,000 L (person-hours/day) W Employer Loss Back 6 This window shows your responses and what was marked correct and incorrect from your previous attempt Suppose the demand and supply curves for unskilled labor in the Corvallis labor market are as shown in the figure below a. By how much will the imposition of a minimum wage at $12 per hour reduce total economic surplus? Instructions: in the graph below, use the point tool to indicate the wage and employment combination that would result with a $12 per hour minimum wage Wmin: Then shade the areas of the resulting employer surplus Employer, worker surplus Worker, and the points awarded reduction in total surplus 'Loss by clicking the provided tools and dragging the corners of the shaded areas into the appropriate 5.68/12.5 Sorel places Your Graph Score: 25% W (S/hour) 20 16 12 Labor Market 4,000 8,000 12,000 16,000 20,000 24,000 L (person-hours/day) W Employer Loss