\fWAGE (Dollars per hour) 18 16 14 12 10 I} 53 mo 150 zoo 250 300 350 no 450 and LABOR (Hundreds of workers) Graph Input Tool Market for Labor in the Fast Food Industry |:| Wage (Dollars per hour} Labor Demanded (Hundreds of workers) |:| SUI] Labor Supplied ( Hundreds of workers) 210 In this market, the equilibrium wage is per hour, and the equilibrium quantityr of labor is\\:| hundred workers. Suppose the mayor of Combopolis introduces a legal minimum wage of $6 per hour. This type of price control is called a V . g uota price ceiling For each of the wages llsted ln the following table, determlne the guantlty of labor demanded, the guantlty of labor sup: price oor 'rectlon of pressure exerted on wages in the absence of any prlce controls. tax Wage Labor Demanded Labor Supplied {Dollars per hour} ( Hundreds of workers} {Hundreds of workers) Pressure on Wages 12 E :l v 8 E :l " True or False: A minimum wage above $10 per hour is a binding minimum wage in this labor market. O True 0 False In this market, the equilibrium wage is per hour, and the equilibrium quantity of labor is|:| hundred workers. Suppose the mayor of Combopolis introduces a legal minimum wage of $6 per hour. This type of price control is called a V . For each of the wages listed ln the following table, determlne the quantity of labor demanded, the quan tlty of labor supplled, and the dlrectfon pressure exerted on wages in the absence of any prlce contmls. Wage Labor Demanded Labor Supplied (Dollars per hour) ( Hundreds of workers} (Hundreds of workers) Pressure on Wages 12 ::_v 8::4 True or False: A minimum wage above $10 per hour is a binding minimum wage int W et. O True O False