Exhibit 4-7 WM W₁ 0 N3 N₁ Number of Unskiled Workers WM Minimum Wage N₂ N3 persons none of the above S Refer to Exhibit 4-7. How many fewer persons work in the unskilled labor market at the minimum wage (WM) than at the equilibrium wage (W 1)? N2 - N₁ persons N₁-N3 persons N2-N3 persons

Exhibit 4-7 WM W₁ 0 N3 N₁ Number of Unskiled Workers WM Minimum Wage N₂ N3 persons none of the above S Refer to Exhibit 4-7. How many fewer persons work in the unskilled labor market at the minimum wage (WM) than at the equilibrium wage (W 1)? N2 - N₁ persons N₁-N3 persons N2-N3 persons

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter10: Labor Markets And Income Distribution

Section: Chapter Questions

Problem 7SQ

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Question

Exhibit 4-7
WM
W₂₁
0
N3
N₁
Number of Unskled Workers
WM Minimum Wage
N₂
N3 persons
none of the above
S
Refer to Exhibit 4-7. How many fewer persons work
in the unskilled labor market at the minimum wage
(WM) than at the equilibrium wage (W 1)?
N2 - N₁ persons
N₁-N3 persons
N2-N3 persons

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