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
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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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