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Figure 28-1 A demand and supply diagram for the labor market, the graph of wage versus hundreds of workers shows a straight line, S, increasing
Figure 28-1 A demand and supply diagram for the labor market, the graph of wage versus hundreds of workers shows a straight line, S, increasing linearly from (10, 2) to (90, 10), and a second straight line, D, decreasing linearly from (10, 10) to (90, 2). The lines intersect at (50, 6) at the equilibrium point. Refer to Figure 28-1. If the government imposes a minimum wage of $8, then how many workers will be unemployed? a. 7,000 b. 4,000 c. 0 d. 3,000
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