Answer:
15 people lost their jobs when minimum wage increased from $12 to $18
Explanation:
When the minimum wage is $12
Then by looking at the given graph :
Number of labors supplied = 33
Number of labors in demand = 33
So, it is an equilibrium wage for the system.
Now, when the minimum wage increased from $12 to $18
From the given graph :
Number of labors supplied = 45
Number of labors in demand = 18
⇒ Number of labors working when wage is $12 = 33
And when the wage is $18, no. of labors working or are in demand = 18
⇒ Number of workers who lost their job = 33 - 18 = 15
Hence, 15 people lost their jobs when minimum wage increased from $12 to $18