22 LS 20 18 Minimum wage 16 14 12 10 LD 100 200 300 400 500 600 700 Quantity (thousAnds of workers) The above figure shows the market for finish carpenters in Bozeman. If there is a minimum wage set at $18, what is TRUE? Select one: O a. The lowest wage for which someone is willing to work is $18 an hour. O b. 200,000 workers are employed. O c. The quantity of jobs demanded is more than the quantity supplied. Od. The quantity of jobs increases to 400,000. Oe. The lowest wage for which someone is willing to work is $20 an hour. CO

22 LS 20 18 Minimum wage 16 14 12 10 LD 100 200 300 400 500 600 700 Quantity (thousAnds of workers) The above figure shows the market for finish carpenters in Bozeman. If there is a minimum wage set at $18, what is TRUE? Select one: O a. The lowest wage for which someone is willing to work is $18 an hour. O b. 200,000 workers are employed. O c. The quantity of jobs demanded is more than the quantity supplied. Od. The quantity of jobs increases to 400,000. Oe. The lowest wage for which someone is willing to work is $20 an hour. CO

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: Earnings And Discrimination

Section: Chapter Questions

Problem 4CQQ

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