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When government sets the hourly minimum wage at $8, 4,000 workers are unemployed. Suppose the demand ...

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When government sets the hourly minimum wage at $8, 4,000 workers are unemployed. Suppose the demand ...

When government sets the hourly minimum wage at $8, 4,000 workers are unemployed. Suppose the demand for labour increases so that quantity supplied equals quantity demanded of labour at a $10 wage. The new equilibrium wage rate is
A) $10 and there is no unemployment.
B) $10 and there is a surplus of labour.
C) $8 and there is a surplus of labour.
D) $8 and there is no unemployment.
E) $8 and there is unemployment.

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Microeconomics for Life: Smart Choices for You

Edition: 2^nd

Author: Cohen

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