Wage per hour $7.25 $6.50 $4.50 D 500 800 900 1200 Number of workers 11. Refer to the graph shown. If government establishes a price floor of $7.25 per hour, there will be a: A. shortage of 400 labor hours. B. surplus of 400 labor hours. C. shortage of 300 labor hours. D. surplus of 300 labor hours