Figure 20-6 A graph of Wage versus Labor shows a straight line, Supply, increasing linearly from the origin to (100, 25) and a second straight line, Demand, decreasing linearly from (0, 25) to (100, 8.33). 3 horizontal lines extend from Wage, as follows, from top to bottom. Wage = 20, Wage = 15, and Wage = 10. Wage = 20 and Labor = 30 meet at a point on Demand, whereas Wage = 20 and Labor = 80 meet at a point on Supply. Wage = 15 and Labor = 60 meet on the intersection of Demand and Supply. Wage = 10 and Labor = 40 meet at a point on Supply, whereas Wage = 10 and Labor = 90 meet at a point on Demand. Refer to Figure 20-6. This figure depicts labor demand and supply for the widget industry. The equilibrium market wage is $15. Suppose a labor union forms and subsequently negotiates an hourly wage of $20.00. Which of the following statements about the impact of the union's formation on labor hours demanded is true? a. Labor hours demanded by widget firms will decrease by 20 hours. b. Labor hours demanded by widget firms will increase