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The following graph shows the labour market in the fast-food industry in the fictional town of Supersize City. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool (?) Market for Labour in the Fast-Food Industry 20 Supply Wage 8 (Dollars per hour) 16 Labour Demanded 360 Labour Supplied 240 (Thousands of (Thousands of workers) workers) WAGE (Dollars per hour) Demand N 0 0 60 120 180 240 300 380 420 480 540 600 LABOUR (Thousands of workers) In this market, the equilibrium hourly wage is $ , and the equilibrium quantity of labour is 000 workers. Suppose a senator introduces a bill to legislate a minimum hourly wage of $8. This type of price control is called aFor each of the wages listed in the following table, determine the quantity of labour demanded, the quantity of labour supplied, and the direction of pressure exerted on wages in the absence of any price controls. Wage Labour Demanded Labour Supplied (Dollars per hour) (Thousands of workers) (Thousands of workers) Pressure on Wages 14 6 True or False: A minimum wage above $10 per hour is not a binding minimum wage in this market. O True O False