Use the Following Table to Answer the Following Questions

Multiple Choice

Use the following table to answer the following questions.

-If a minimum wage is set at $5.50,what is the amount of disequilibrium in the labor market?

A) There would be a labor shortage of 25,515,000.
B) There would be a labor surplus of 25,515,000.
C) There would be neither a shortage nor a surplus.
D) A labor surplus of 25,515,000 would be eliminated because individuals would decide to work in the illegal black market.
E) A labor surplus of 25,515,000 would increase as individuals find work in the illegal black market.