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How am i supposed to do the graph? Unit 3: Entrepreneurship x _ Graph of price ceiling a x K Rosaline Mammy - Cha X

How am i supposed to do the graph?

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Unit 3: Entrepreneurship x _ Graph of price ceiling a x K Rosaline Mammy - Cha X K Rosaline Mammy - Cha x ihq.com/web/viewer.html?state=%7B"ids"%3A%5B"1KoN92pOqJXDnYZwz_QRYP-VAyihoJ-i"%50%2C"authuser"%3A"0"%2C"f BLK 4 Econ . Rosaline Mammy - Charles Claeyssen - Price Floors & Price Ceilings.pdf + 100% PART 1: Graphically Showing the Effects of a Price Floor (example: minimum wage) Price (wage) Price QD Qs (wage) (# workers (# workers wanted) available) $3-50 2,100 300 $4-50 1,800 600 $5-50 1,500 900 $6.50 1,200 1,200 $7.50 900 1,500 $8.50 600 1,800 $9.50 300 2,100 Quantity (# worker 1. Use the data provided above to plot the supply and demand curves for the labor market (workers). Be sure to completely label the axes and points on the graph. 2. Answer the following questions: . What is the market price for labor? What is the quantity demanded for labor at the market price? What is the quantity supplied for labor at the market price? 3. Suppose the local city government enacted minimum wage laws at $8.50/hour. Draw a solid line on your

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