Consider the following figure to answer the following question. (Kenyan shillings per mo 20,000 15,000 12.000 10,000 20,000 36,000 30,000 45,000 Answer Suppose that the labor market is in equilibrium. The government has decided to implement a minimum wage of $10,000 Kenyan Shillings per month. How much does the number of hired change? (DL-3) a. Changes by 6000 units of labor b. Change by 9000 units of labor. c. Changes by 0 units of labor d. Changes by 15000 units of labor OA OB Supply OC Demand 60,000 Quantity D

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Consider the following figure to answer the following question.
Wage
(Kenyan
shillings
per month)
20,000
15,000
12,000
10,000
20,000 36,000
30,000 45,000
Answer *
OA
Suppose that the labor market is in equilibrium. The government has decided to implement a
minimum wage of $10,000 Kenyan Shillings per month. How much does the number of hired
change? (DL-3)
B
a. Changes by 6000 units of labor
b. Change by 9000 units of labor.
c. Changes by 0 units of labor
d. Changes by 15000 units of labor
C
Demand
60,000
D
Supply
Quantity
of labor
Submit
Transcribed Image Text:Consider the following figure to answer the following question. Wage (Kenyan shillings per month) 20,000 15,000 12,000 10,000 20,000 36,000 30,000 45,000 Answer * OA Suppose that the labor market is in equilibrium. The government has decided to implement a minimum wage of $10,000 Kenyan Shillings per month. How much does the number of hired change? (DL-3) B a. Changes by 6000 units of labor b. Change by 9000 units of labor. c. Changes by 0 units of labor d. Changes by 15000 units of labor C Demand 60,000 D Supply Quantity of labor Submit
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