​Figure 52

Multiple Choice

​Figure 5.2. The figure shows the supply and demand curves of a firm.
-Which of the following statements is true?​

A) ​Minimum wage creates a labor deficit in a market.
B) ​Minimum wage intends to increase the consumer surplus.
C) ​Minimum wage is a wage set below the equilibrium wage in order to create more job opportunities.
D) ​Minimum wage harms the unskilled workers between the age group 40 and 50.
E) ​Minimum wage harms the unskilled workers between the age group 16 and 19.