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Market for Labor in the Fast Food Industry
	Wage (Dollars per hour)
	Labor Demanded (Thousands of workers)			Labor Supplied (Thousands of workers)

In this market, the equilibrium hourly wage is

, and the equilibrium quantity of labor is

thousand workers.

Suppose a senator introduces a bill to legislate a minimum hourly wage of $6. This type of price control is called a .

For each of the wages listed in the following table, determine the quantity of labor demanded, the quantity of labor supplied, and the direction of pressure exerted on wages in the absence of any price controls.

Wage	Labor Demanded	Labor Supplied	Pressure on Wages
(Dollars per hour)	(Thousands of workers)	(Thousands of workers)
12
8

True or False: A minimum wage below $10 per hour is a binding minimum wage in this market.

True

False