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suppose demand for labor is given by the equation PD=25-QD and supply for labor is given by the equation Ps=5+2Qs. Price is the hourly wage
suppose demand for labor is given by the equation PD=25-QD and supply for labor is given by the equation Ps=5+2Qs. Price is the hourly wage rate in dollars and quantity measures the number of workers imposing a minimum wage of 17 dollars by government will
A. create labor surplus of 2 and firms will hire 5 workers
B.create unemployment of 0 and firm will hire 4 workers
C.create unemployment of 2 and firm will hire 4 workers
D.create labor shortage of 0 and firms will hire 5 workers
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