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P portal.mypearson.com Assignments C openve P Do Homework Patrick Figaro Google Chrome https:// 316262524&questionld; 12&flushed-true;&cld; 3408601&cen; Q Patrick Figaro 9/20/15 3:40 PM MyEconLab Homework: first assignment Save Main Menu Assignments Score: 0 of 1 p 26 of 30 (0 complete HW Score: 0%, 0 of 30 pts Do Homework Take a Quiz/Test Text Problem 4-11 Question Help Consider the diagram at right, which depicts the labor market in a city that has adopted a "living wage law requiring employers to pay a minimum wage rate of $9 per hour. What condition exists in this city's labor market at the present minimum wage of $9 per hour? There is Click to select your answer(s) and then click Check Answer 4 parts remaining Clear All Final Check gend OK 2:41 PM 9/20/2015

Explanation / Answer

In this case, Minimum wage rate of $9 is higher than the equilibrium wage rate of $8. So in this city when minimum wage rate is $9 per hour. There is higher supply than demand for labor, which will result in structural unemployment.

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