Table 4-4 Table 4-4 Shows the Demand and Supply Schedules for the and Supply

Multiple Choice

Table 4-4

Table 4-4 shows the demand and supply schedules for the labor market in the city of Pixley.
-Refer to Table 4-4.If a minimum wage of $12.50 is mandated, there will be a

A) shortage of 40,000 units of labor.
B) surplus of 40,000 units of labor.
C) shortage of 80,000 units of labor.
D) surplus of 80,000 units of labor.