select the correct answer. based on the graph, how many people are willing to work when the government of a…

select the correct answer. 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? hourly wage (dollars) 25 price floor 17 equilibrium price supply demand 9 16 28 number of workers a. 9 b. 12 c. 16 d. 19 e. 28

select the correct answer. 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? hourly wage (dollars) 25 price floor 17 equilibrium price supply demand 9 16 28 number of workers a. 9 b. 12 c. 16 d. 19 e. 28

Answer

Explanation:

Step1: Identify the relevant point on the graph

The number of people willing to work is determined by the supply - side of the labor market at the given wage. When the minimum wage is $25 (the price - floor), we look at the intersection of the $25 wage line and the supply curve.

Step2: Read the value

From the graph, the number of workers on the horizontal axis at the intersection of the $25 wage line and the supply curve is 28.

Answer:

E. 28