Question
Refer to the table found below concerning the construction industry. Wages (Dollars per Hour) Number of Carpenters Demanded Number of Carpenters Supplied $20 500 150
Refer to the table found below concerning the construction industry.
Wages (Dollars per Hour) | Number of Carpenters Demanded | Number of Carpenters Supplied |
$20 | 500 | 150 |
$23 | 400 | 250 |
$26 | 300 | 350 |
$29 | 200 | 450 |
$32 | 100 | 550 |
a. Make a spreadsheet in Excel as shown below.
b. Refer to question #9 to graph the information in the chart found above. Your chart should include all information that you see in question #9 (part 2) of your tutorial.
c. If the government instituted a minimum wage of $30 per hour, how would this minimum wage change the employment situation in the carpenter labour market? Graph the new information with all information that you see in question #9 (part 7 ii) of your tutorial.
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