The graph shows the market for gardeners organized by the Gardeners\' Federation

Question

The graph shows the market for gardeners organized by the Gardeners' Federation in Detroit, Michigan. Wage rate (dollars per hour) 25.00 What is the wage rate that gardeners earn and how many gardeners are employed? 22.50- 20.00 The wage rate that gardeners earn is S an hour and the number of gardeners employed is When the Gardeners Federation sets the minimum wage for 15.00- gardeners at $20.00 an hour,gardeners are employed and they earn San hour. 17.50 12.50 10.00 The number of gardeners unemployed is 7.50- 0 75 150 225 300 375 450 525 600 Quantity (gardeners)

Explanation / Answer

Answer
$15
300
150
$20
300

The equilibrium without the minimum wage is at Qd=Qs where wage=$15 and Q=300
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after minimum wage, a Gardner can earn $20 and at this wage, demand is 150 only and supply of Gardner is 450
Unemployed=450-150=300
Unemployed Gardner is 300

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