based on the graph, how many people are willing to work when the government of a country raises the minimum…
based on the graph, how many people are willing to work when the government of a country raises the minimum wage from $17 to $25?\na. 9\nb. 12\nc. 16\nd. 19\ne. 28
Answer
Explanation:
Step1: Identify relevant variable on graph
The number of people willing to work is determined by the supply - side of the labor market. When the minimum wage (price floor) is set at $25, we look at the intersection of the $25 price - floor line and the supply curve.
Step2: Read the value
From the graph, at the price floor of $25, the number of workers on the supply curve is 28.
Answer:
E. 28