Question

How many people lost their jobs when the minimum wage increased from $12 to $18?

labor supply
----- minimum wage
Wages
equilibrium wage
labor demand
18 33 45
Number of workers
O
A.
15
O
O O
OD. 45

Answer 1

15 people lost their jobs when the minimum wage increased from $12 to $18 according to given graph.

Option: A

Step-by-step explanation:

Answer 2

A. 15 people lost their job when the minimum wage was increased from $12 to $18.

Explanation:

According to the graph, 33 people were working when the wage was $12. Later the wage was increased to $18. So the equilibrium was shifted to left. The working number of people was reduced to 18. Now on taking the difference,

33-18= 15

15 people lost their job, when the minimum wage was increased from $12 to $18.

The correct option is A. 15