The graph illustrates the hiring market for crane operators in the state of Florida. A workers' union has successfully petitioned the government to impose a minimum wage of W1 for crane operators. If the government lowers the minimum wage to W2, then Wage supply Rate Wi W2 demand Number of Crane Operators Image created by Steven Sproles for Virtual Virginia, 2020. O Employment of crane operators will decrease because firms will be less willing to hire more workers at the new wage O Employment of crane operators will decrease because fewer crane operators will be willing to work at the new wage O Employment of crane operators will increase because more crane operators will be willing to work at the new wage Employment of crane operators will remain unchanged O Employment of crane operators will increase because firms will hire more workers at the new wage

The graph illustrates the hiring market for crane operators in the state of Florida. A workers' union has successfully petitioned the government to impose a minimum wage of W1 for crane operators. If the government lowers the minimum wage to W2, then Wage supply Rate Wi W2 demand Number of Crane Operators Image created by Steven Sproles for Virtual Virginia, 2020. O Employment of crane operators will decrease because firms will be less willing to hire more workers at the new wage O Employment of crane operators will decrease because fewer crane operators will be willing to work at the new wage O Employment of crane operators will increase because more crane operators will be willing to work at the new wage Employment of crane operators will remain unchanged O Employment of crane operators will increase because firms will hire more workers at the new wage

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter16: The Markets For Labor, Capital, And Land

Section: Chapter Questions

Problem 13P

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