Wage Rate ($ per hour) 7 6 5 4 Quantity Supplied (hours per week) 1000 800 600 400 Quantity Demanded (hours per week) 200 400 600 800 The table gives the supply and demand schedules for teenage labour in Genoa City Suppose the Genoa City Council sets a minimum wage of $6 per hour Teenage unemployment is hours Suppose the Genoa City Council sets a minimum wage of $4 per hour Teenage unemployment is hours There is a minimum wage set at $6 per hour Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate The result is a teenage unemployment rate of hours and a wage rate of $ per hour The table gives the supply and demand schedules for teenage labour in Genoa City Suppose the Genoa City Council sets a minimum wage of $6 per hour Teenage unemployment is hours Suppose the Genoa City Council sets a minimum wage of $4 per hour Teenage unemployment is hours There is a minimum wage set at $6 per hour Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate The result is a teenage unemployment rate of hours and a wage rate of $ per hour

Question

Wage Rate ($ per hour) 7 6 5 4 Quantity Supplied (hours per week) 1000 800 600 400 Quantity Demanded (hours per week) 200 400 600 800 The table gives the supply and demand schedules for teenage labour in Genoa City  Suppose the Genoa City Council sets a minimum wage of $6 per hour  Teenage unemployment is hours  Suppose the Genoa City Council sets a minimum wage of $4 per hour  Teenage unemployment is hours  There is a minimum wage set at $6 per hour  Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate  The result is a teenage unemployment rate of hours and a wage rate of $ per hour  The table gives the supply and demand schedules for teenage labour in Genoa City  Suppose the Genoa City Council sets a minimum wage of $6 per hour  Teenage unemployment is hours  Suppose the Genoa City Council sets a minimum wage of $4 per hour  Teenage unemployment is hours  There is a minimum wage set at $6 per hour  Suppose a new fast food restaurant opens and increases the quantity demanded of teenage labour by 400 hours per week at each wage rate  The result is a teenage unemployment rate of hours and a wage rate of $ per hour

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Wage Rate ($ per hour) 7 6 5 4 Quantity Supplied (hours per week) 1000 800 600 400 Quantity Demanded (hours per week) 200 400

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