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The Figure Given Below Shows the Demand and Supply of Unskilled

Question 46

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The figure given below shows the demand and supply of unskilled labor that determines the equilibrium wage rate in the labor market.The minimum wage rate at $5.15 is higher than the equilibrium wage rate at $4. The figure given below shows the demand and supply of unskilled labor that determines the equilibrium wage rate in the labor market.The minimum wage rate at $5.15 is higher than the equilibrium wage rate at $4. -Refer to Figure 18-1.The increase in the number of workers looking for work in this market due to the imposition of a $5.15 minimum wage is _____. A) L<sub>1</sub>L<sub>3</sub> B) L<sub>2</sub>L<sub>3</sub> C) OL<sub>1</sub> D) L<sub>2</sub>L<sub>1</sub>
-Refer to Figure 18-1.The increase in the number of workers looking for work in this market due to the imposition of a $5.15 minimum wage is _____.


A) L1L3
B) L2L3
C) OL1
D) L2L1

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