The following graph represents the labor market in Rome in the absence of price controls.Now suppose the government imposes a minimum wage of $10. If the government does not implement any additional policies to resolve the resulting disequilibrium, the cost of ______________ (fill blank- supplying/demanding) labor will rise until equilibrium is restored.Use the black line (plus symbol) to draw the line illustrating this shift in either the supply or demand curve (assuming the shift is parallel). Then use the green triangle (triangle symbols) to shade the area representing the gains to employers?that is, consumer surplus?and the purple triangle (diamond symbols) to shade the area representing the gains to workers?that is, producer surplus?at the minimum wage rate. Finally, use the black triangle (plus symbols) to determine the minimum amount of deadweight loss (DWL) generated by the minimum wage.Note: You will not be graded on your placement of the objects on the graph. Once you have placed the shapes properly on the graph, select them to see the areas, and use this information to complete the table following the graph.

New S or D Curve 16 14 A Demand 12 Consumer Surplus 10 WAGE (Dollars per hour) Producer Surplus A Deadweight Loss K Supply 2 2 4 6 8 10 12 14 16 18 20 LABOR (Thousands of worker hours) Consumer Surplus Producer Surplus Minimum Deadweight Loss (Dollars) (Dollars) (Dollars) No Minimum Wage 36,000 36,000 Minimum Wage = $10 True or False: Deadweight loss will be greater if the minimum wage forces people to spend more time searching for jobs than if it simply causes those who remain employed to expend more energy at work. O True O False