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Figure 1: Labour Marker for Low-skilled Workers $/hr S 12 11 10 9 8 7 6 5 4 3 2 D 1 2 4 6
Figure 1: Labour Marker for Low-skilled Workers $/hr S 12 11 10 9 8 7 6 5 4 3 2 D 1 2 4 6 10 12 14 16 18 Q (thousands of workers) Refer to Figure 1, which illustrates the market for low-skilled labour. If the government introduces a minimum wage law sct at S9 per hour, then, in the new equilibrium, which of the following statements is TRUE? The number of workers that employers are prepared to hire will decrease by 5,000. The number of workers employed will decrease by 11,000. There will be 11.000 workers willing to work who cannot find work, given the wagc. The number of workers employed will increase by 8,000
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