​Figure 53

Multiple Choice

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-Refer to figure 5.3. If people refuse to offer labor unless they receive a wage higher than the equilibrium wage​, then:

A) ​there will be a shift in the equilibrium point.
B) ​the quantity of labor demanded will increase from Q to Q_II.
C) ​the quantity of labor demanded will fall from Q to Q_I.
D) ​the wage rate will move up, from $6 to $8.
E) ​the wage rate will fall from $6 to $4.