select the correct answer.\na toy manufacturing company currently produces 100 toys each day. the workers at…

select the correct answer.\na toy manufacturing company currently produces 100 toys each day. the workers at that company earn $15 per hour. however, the government establishes a minimum wage of $24 per hour. the company cannot afford to keep all its workers, so it lays off some employees. how many people lose their jobs?\n\na. 14\nb. 18\nc. 23\nd. 41

select the correct answer.\na toy manufacturing company currently produces 100 toys each day. the workers at that company earn $15 per hour. however, the government establishes a minimum wage of $24 per hour. the company cannot afford to keep all its workers, so it lays off some employees. how many people lose their jobs?\n\na. 14\nb. 18\nc. 23\nd. 41

Answer

Explanation:

Step1: Find initial number of workers

At equilibrium wage of $15 per - hour, from the graph, the number of workers is 41.

Step2: Find number of workers after minimum - wage

At the minimum wage of $24 per - hour, from the graph, the number of workers is 23.

Step3: Calculate number of workers laid off

Subtract the number of workers at the minimum wage from the number of workers at the equilibrium wage. $41−23 = 18$.

Answer:

B. 18