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The graph below shows the supply and demand curves for workers in a perfectly competitive labor market. Suppose that the union increases the wage to $8.
As as result of this there will be
surplus of labor.
Hint
Box 1: Select the best answer
The graph below shows the supply and demand curves for workers in a perfectly competitive labor market. Suppose that the union increases the wage to $9.
As as result of this how many workers will be unemployed?
thousand
4
Hint
Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172
Enter DNE for Does Not Exist, oo for Infinity