The graph shows the market for orange pickers in Florida. If Florida introduces a minimum wage for orange pickers of $16.00 an hour, how many pickers are employed and how many are unemployed? If Florida introduces a minimum wage for orange pickers of $16.00 an hour, pickers are employed and pickers are unemployed. The lowest wage that some workers might be able to earn if a black market develops is $. 20.00- 16.00- 12.00- 8.00- Wage rate (dollars per hour) 4.00+ 1500 2250 3000 Quantity (pickers) 3750 S D 4500 Q Q

The graph shows the market for orange pickers in Florida. If Florida introduces a minimum wage for orange pickers of $16.00 an hour, how many pickers are employed and how many are unemployed? If Florida introduces a minimum wage for orange pickers of $16.00 an hour, pickers are employed and pickers are unemployed. The lowest wage that some workers might be able to earn if a black market develops is $. 20.00- 16.00- 12.00- 8.00- Wage rate (dollars per hour) 4.00+ 1500 2250 3000 Quantity (pickers) 3750 S D 4500 Q Q

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter4: Labor And Financial Markets

Section: Chapter Questions

Problem 20RQ: Whether the product market or the labor market, what happens to line equilibrium price and quantity...

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